After a long down trend a breakout is seen on that daily chart of GOLD, one can go positionally long from here or wait for a retest of the support level to get a better risk to reward ration.
Retail investors are advised to invest via ETFs and as per the price movement near to resistance.
Gold against dollar could take a bearish week upto 1785 , and it looks like a strong reversal area from that point with a wedge pattern
Midterm forecast: 1762.55 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 1762.55 is broken. Technical analysis: There is a divergence in RSI and price between the trough at 1676.7 on 2021-03-08 and the trough at 1677.8 on 2021-03-31, the probability of downtrend...
Bullish above 1858 $ TARGET : 1963 $, 2075 $+ SL : 1760 Risk is yours and Reward is too yours totally
Good accumulaion near resistance level 1940 next week possible 1940+ crossover toch to 1955 level
Spot gold is currently trading in upper sloping channel. Also there is very important trendline resistance at $1847 which also coincides with 61.8 retracement. Hence spot Gold can be extremely bullish on a break of $1847
Trading Signal: There is a Trading Signal to Buy in Gold XAUUSD Traders can open their Buy Trades NOW If you liked our ideas, please support us with your likes 👍 and comments .
WE CAN GO FOR SHORT IN SIDE THE PATTERN WITH SMALL SL. AS PER DOW Theory we have lower low now and pullback so short possibel
look at the chart it will answer all ur questions follow stop loss and happy money making
Symmetric triangle breakout and price at a crucial resistance level Buy if price goes above 69 or tommorows open is above 69 with 83.40 and 90 as target