Gold prices remained stable during midday trading on Tuesday in the US due to some light safe-haven demand following news of a dam and a large power plant explosion in Ukraine, causing massive floods in the area and raising concerns about crop and food damage. Most agree that the situation is a significant escalation in the Russia-Ukraine conflict. August gold rose $5.10 to $1,979.
The blame game is going on between Russia and Ukraine over the destruction of the dam in the Russian-controlled territory in Ukraine. The Ukrainian people say the Russians are responsible. The largest nuclear power plant in Europe is not far from the dam, but it is upstream. The market will closely monitor this situation in the coming days.
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⭐️Make a trading plan: ✅Buy order in the $1,944-$1,947 price zone when the support zone is approached. ✖️Stoploss: $1,940.
✅Sell the $1,976-$1,973 range when the price hits the resistance area. ✖️Stoploss: $1,980.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!
Comment
⋅
⭐️Make a trading plan: ✅Buy order in the $1,944-$1,947 price zone when the support zone is approached. ✖️Stoploss: $1,940.
✅Sell the $1,976-$1,973 range when the price hits the resistance area. ✖️Stoploss: $1,980.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!