Key resistance level coming up in Gold, potential sell
Hello traders, we are approaching a key level in Gold.
Price is now within the moderate supply zone.
The area between 1945-1952 would be the one to watch out for.
In case of bearish price action in this level, traders can consider
selling with 1880 as the target. Potential entry would be
between 1945 to 1952.
Keep in mind that if price breaks strongly through this zone, then
we will see a continuation of the uptrend
Price is now within the moderate supply zone.
The area between 1945-1952 would be the one to watch out for.
In case of bearish price action in this level, traders can consider
selling with 1880 as the target. Potential entry would be
between 1945 to 1952.
Keep in mind that if price breaks strongly through this zone, then
we will see a continuation of the uptrend
Comment:
Price still in the zone
Comment:
We have a hourly rejection candle in the zone
Comment:
4H hour bearish candlestick formed. Let's see if price moves below 1940