Gold might pivot higher again
Gold is retracing off the dynamic support area on the daily chart and is now moving within the second day of recovery.
Despite the strengthening US dollar, Gold seems to be keeping the momentum, but, it probably, won't do that for too long.
However, we can still consider opening a long trade for 2-3 days if the price would retest the lower band of Bollinger Bands, as shown in the chart.
Always do your own research and never forget to manage your risk!
Despite the strengthening US dollar, Gold seems to be keeping the momentum, but, it probably, won't do that for too long.
However, we can still consider opening a long trade for 2-3 days if the price would retest the lower band of Bollinger Bands, as shown in the chart.
Always do your own research and never forget to manage your risk!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.