Hello Traders and subscribers... Welcome and thank you for taking your out time to check this Precious Metal Idea Out.
General sentiment; #DXY has had a long growth recently but it seem to be more bearish going by the weekly candlestick close and a break of the demand level around $100 might aid #Gold growth in correlation to other factors that might affect Dollar Index this week.
Technical idea; #Gold has been trading in a bullish correctional pattern for a while now after the Long run to an equal high $2077.309 of 03 Aug 2020, A rebound seem to been in view and presently price has broken out a of major falling trendline and had a retest of the the support level of $1,831. Presently, Price is cooling off within a range to retest the supply level of $1.890 which seem to be my main target and an extension might happened if there is much volatility in the market, having my extended level of tp target around $1,909. Meanwhile, if price breaks out bellow the major trendline that is currently forming and serving as a support we might see price go back to it recent low which is $1,785.
If you like my Idea kindly like, follow and comment your view bellow. Thank You All.
General sentiment; #DXY has had a long growth recently but it seem to be more bearish going by the weekly candlestick close and a break of the demand level around $100 might aid #Gold growth in correlation to other factors that might affect Dollar Index this week.
Technical idea; #Gold has been trading in a bullish correctional pattern for a while now after the Long run to an equal high $2077.309 of 03 Aug 2020, A rebound seem to been in view and presently price has broken out a of major falling trendline and had a retest of the the support level of $1,831. Presently, Price is cooling off within a range to retest the supply level of $1.890 which seem to be my main target and an extension might happened if there is much volatility in the market, having my extended level of tp target around $1,909. Meanwhile, if price breaks out bellow the major trendline that is currently forming and serving as a support we might see price go back to it recent low which is $1,785.
If you like my Idea kindly like, follow and comment your view bellow. Thank You All.
