Gold Outlook
Good afternoon all!
Looking at Gold from a 4H perspective, we see that price is currently in a downtrend as evidenced by the LowerHighs and LowerLows. We can see that support has been found at $2160-2150 and resistance at $2190-2180 on the 4H timeframe. I expect her to make a push to retest the new resistance zone that can be seen on the rectangle box. A candle closure above this area would indicate a possible trend reversal but confirmations on the higher timeframe would be needed to enter on a swing.
Looking at Gold from a 4H perspective, we see that price is currently in a downtrend as evidenced by the LowerHighs and LowerLows. We can see that support has been found at $2160-2150 and resistance at $2190-2180 on the 4H timeframe. I expect her to make a push to retest the new resistance zone that can be seen on the rectangle box. A candle closure above this area would indicate a possible trend reversal but confirmations on the higher timeframe would be needed to enter on a swing.
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.