In my last post I shared that structure is not supporting more fall in GOLD.
Because Gold was holding 2005 really well but yesterday when it slipped below it showing weakness in it.
Below 2005 Gold is expected to test 1969 and 1960.
Gold is falling as dollar index is strengthening.
Support levels for gold are 1960 and 1944.
If Gold goes below them then we can expect correction for entire impulse one degree above.
In the box left side a weekly picture of gold is shown as it faced resistance multiple times at higher level and hence correction is necessary for new high.
Targets will be updated then after the breach.
Stay safe and Trade safe.
Note: The above information is just an idea and not a trade recommendation. Consult your financial advisor before taking any trade or trade at your own risk.
Because Gold was holding 2005 really well but yesterday when it slipped below it showing weakness in it.
Below 2005 Gold is expected to test 1969 and 1960.
Gold is falling as dollar index is strengthening.
Support levels for gold are 1960 and 1944.
If Gold goes below them then we can expect correction for entire impulse one degree above.
In the box left side a weekly picture of gold is shown as it faced resistance multiple times at higher level and hence correction is necessary for new high.
Targets will be updated then after the breach.
Stay safe and Trade safe.
Note: The above information is just an idea and not a trade recommendation. Consult your financial advisor before taking any trade or trade at your own risk.
Comment:
Target 1969 met...
Trade closed: target reached:
1960 also met on the same day...
