Gold is recovering thanks to information from the US government
Updated
Gold (XAU) is trading on the bearish side of $1956.30 (S1), putting it in a weak position.
A sustained move under $1956.30 (S1), however, could extend the selling into $1923.06 (S2). Aggressive counter-trend buyers could come in on the first test of this level, but if it fails, then look for the selling to possibly lead to a near-term test at $1876.81 (S3).
Overcoming $1956.30 (S1) will indicate the counter-trend buying is getting stronger. If this creates enough near-term momentum then look for a surge into the PIVOT at $2002.54.
𝖷𝖠𝖴𝖴𝖲𝖣 SELL NOW 1953 - 1955 💯💯
✅𝖳𝖯1 1945
✅𝖳𝖯2 1940
✅TP3 1935
🛑𝖲𝖫 1963
A sustained move under $1956.30 (S1), however, could extend the selling into $1923.06 (S2). Aggressive counter-trend buyers could come in on the first test of this level, but if it fails, then look for the selling to possibly lead to a near-term test at $1876.81 (S3).
Overcoming $1956.30 (S1) will indicate the counter-trend buying is getting stronger. If this creates enough near-term momentum then look for a surge into the PIVOT at $2002.54.
𝖷𝖠𝖴𝖴𝖲𝖣 SELL NOW 1953 - 1955 💯💯
✅𝖳𝖯1 1945
✅𝖳𝖯2 1940
✅TP3 1935
🛑𝖲𝖫 1963
Note
Full TP - SL to beat the market
Related publications
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.