Gold daily analysis 02-03-2022
Gold is able to breakout the strong resistance near 1926. So this is the support now.
Gold also tested the 78 % retracement level near 1950 and pulled back near 1935 which is 61 % level.
As of now gold is ranging between 1930-1950.
Gold is still bullish so go only for buy. The best level to buy is 1926.
However on daily chart the volume is falling from 4 days and price is increasing. So there will be a reversal soon. This may happen when gold tests the level near 1970.
So we can go for a short trade above 1950 for long term.
Scalp trade
Buy 1926-1936 TP 1950 SL 1920
Sell 1950-1960 TP 1928 SL 1980
Gold also tested the 78 % retracement level near 1950 and pulled back near 1935 which is 61 % level.
As of now gold is ranging between 1930-1950.
Gold is still bullish so go only for buy. The best level to buy is 1926.
However on daily chart the volume is falling from 4 days and price is increasing. So there will be a reversal soon. This may happen when gold tests the level near 1970.
So we can go for a short trade above 1950 for long term.
Scalp trade
Buy 1926-1936 TP 1950 SL 1920
Sell 1950-1960 TP 1928 SL 1980
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