Gold Price Expected to Rebound at Support Level
The current trend line for gold is a downward sloping line that has been in place since [May 14, 2024 at 09:30 UTC]. The gold price is currently trading at [USD 2,348.46] and is expected to continue to decline until it reaches the support level at [USD 2,321.00]. Once it reaches this level, the gold price is expected to reverse its direction and begin to move higher.
Note
To the target (2321 USD).. ;)Note
If the price breaks the white downtrend (hanging in the air) + crosses the vertical white time line today, May 14, at 9:30, we will close the downtrend and start a very strong buy order, with its first target being $2,375 per ounce.Note
How does a line hanging in the air affect the price?Perhaps we will close the sell Order now (in profit) and open a buy Order, because the time represented by the white vertical line remains less than 3 hours - which means that the price after that will achieve the second part of the recommendation early, which is rising to the targets 2350$,then 2380 $
Note
1st target 2350$ just done!Note
in the road to 2ed target $2,375Trade closed: target reached
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.
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.