Gold is still in the rising price channel
Updated
Gold stays above the $2030 level, supported by falling Treasury yields. The broad pullback in precious metals markets did not put any pressure on gold in today’s trading session.
In case gold settles above $2040, it will head towards the resistance at $2065 – $2075.
- The current situation is that GOLD is still in an increasing channel H4 and is gradually compressing higher.
- Sellers' expectations are for a large daily bearish channel and bearish correction
==> Currently, the fluctuation range in OB is also high.
Seller be careful
The buyer has a beautiful order
In case gold settles above $2040, it will head towards the resistance at $2065 – $2075.
- The current situation is that GOLD is still in an increasing channel H4 and is gradually compressing higher.
- Sellers' expectations are for a large daily bearish channel and bearish correction
==> Currently, the fluctuation range in OB is also high.
Seller be careful
The buyer has a beautiful order
Note
BUY STOP 2038 - 2040 ✔️✔️💵TP 2048 - 2053
❌SL 2033
Note
SELL XAUUSD 2048 - 2051 ✔️✔️💵TP 2040 - 2035
❌SL 2058
Note
BUY STOP 2038 - 2040 ✔️✔️ + 100 pips close all
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.