GOLD Sell Setup For Swing Trade.
After a lot of rejection around 1890-1900 Gold finally able to overcome this hurdle. I Still think Gold needs to go up to test the level around 1915-1923. that would be the make or break level for GOLD. If price able to break this level then we expect further bullish momentum.
But there are a lot of fundamental involve in January 2021, which may not support Gold to go up. Like we have US presidential handover will be happening in January. Also, we have very much positive news about Vaccine as well. These fundamentals are enough for GOLD for another drop and grab some liquidity before another bullish leg.
So First Downside target is 1720-1750. and 2nd downside target would around 1650-1670. But It would not be a straight forward drop. it would take time.
This is not a signal or financial advice, this is all probability, But we have to manage the risk properly if the market goes against our idea.
and we have to manage the situation accordingly.
After a lot of rejection around 1890-1900 Gold finally able to overcome this hurdle. I Still think Gold needs to go up to test the level around 1915-1923. that would be the make or break level for GOLD. If price able to break this level then we expect further bullish momentum.
But there are a lot of fundamental involve in January 2021, which may not support Gold to go up. Like we have US presidential handover will be happening in January. Also, we have very much positive news about Vaccine as well. These fundamentals are enough for GOLD for another drop and grab some liquidity before another bullish leg.
So First Downside target is 1720-1750. and 2nd downside target would around 1650-1670. But It would not be a straight forward drop. it would take time.
This is not a signal or financial advice, this is all probability, But we have to manage the risk properly if the market goes against our idea.
and we have to manage the situation accordingly.