GOLD 4H :Under 1853 will start a correction
GOLD
New forecast
Gold prices rose more than 1% during these moments of trading, Monday, as dramatic clashes between Israeli forces and Hamas over the weekend increased the risks of a broader conflict in the Middle East and prompted a rush towards safe-haven investments such as bullion.
Technical abstract :
The price of gold opened today’s trading with an upward gap that placed the price above the 1835 level. This leads the price to recover and attempt to achieve gains that begin by testing the 1863 level, so that the upward bias is likely for coming days.
Therefor the upward scenario will be remain valid and effective but at first the price will try to correction to 1835 and then will push up to 1863 and 1894 ,so under 1853 the price will try to start a correction to 1935 and then push up ,for remembering you breaking 1835 will stop the proposed upward wave and put pressure on the price to decline again.
The expect range trading for today it will be between resistance line 1863 and support line 1835 until stabilized
support line : 1835 , 1815
resistance line : 1853 , 1863
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New forecast
Gold prices rose more than 1% during these moments of trading, Monday, as dramatic clashes between Israeli forces and Hamas over the weekend increased the risks of a broader conflict in the Middle East and prompted a rush towards safe-haven investments such as bullion.
Technical abstract :
The price of gold opened today’s trading with an upward gap that placed the price above the 1835 level. This leads the price to recover and attempt to achieve gains that begin by testing the 1863 level, so that the upward bias is likely for coming days.
Therefor the upward scenario will be remain valid and effective but at first the price will try to correction to 1835 and then will push up to 1863 and 1894 ,so under 1853 the price will try to start a correction to 1935 and then push up ,for remembering you breaking 1835 will stop the proposed upward wave and put pressure on the price to decline again.
The expect range trading for today it will be between resistance line 1863 and support line 1835 until stabilized
support line : 1835 , 1815
resistance line : 1853 , 1863
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
