Not out of the woods just yet... but looks good.
So as discussed yesterday we have seen bounce from the major support of 1680 which was supported by the decline of DXY and gold bounced.
Now the question is whether gold will maintain this boost or it will back under 1700.Most importantly shorts looking to lock in max profit now have to decide whether to cover here , or possible higher as their profit fade .
on H4 we can see that price is above HVN (1710) and in bottom supported by trendline so for today we can expect more rise if hold this HVN and 1700 level and we can look for sell if breakdown these levels .In Upside we have to watch 1720-25 and 1740-45 Zone.
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Today's Outlook:📝 (22/07/2022)
Weekly candle : Bearish
Day Candle: Bullish
Trend : Down
Major News USD : S&P PMI 🔔
Intraday support as per OI: 1700,1675
Intraday Resistance as per OI : 1700,1720
Price Action Support :1710,1700| Resistance 1720,28,45
CPR : Wide( Ascending)
DJI : + 0.51 %
DXY : - 0.47 %
OI : Ascending (Last Day)
COT : Downtrend ( MM-Last Week)
Daily COMEX Vault status : Withdrawal(Lowest Level since June 2020)🔔
POC: Uptrend (Previous day )
S1 :1692.97
R1:1732.32
PD Low : 1680.74
PD High:1720.07
DXY Last day candle :Bullish
Now the question is whether gold will maintain this boost or it will back under 1700.Most importantly shorts looking to lock in max profit now have to decide whether to cover here , or possible higher as their profit fade .
on H4 we can see that price is above HVN (1710) and in bottom supported by trendline so for today we can expect more rise if hold this HVN and 1700 level and we can look for sell if breakdown these levels .In Upside we have to watch 1720-25 and 1740-45 Zone.
.........................................
Today's Outlook:📝 (22/07/2022)
Weekly candle : Bearish
Day Candle: Bullish
Trend : Down
Major News USD : S&P PMI 🔔
Intraday support as per OI: 1700,1675
Intraday Resistance as per OI : 1700,1720
Price Action Support :1710,1700| Resistance 1720,28,45
CPR : Wide( Ascending)
DJI : + 0.51 %
DXY : - 0.47 %
OI : Ascending (Last Day)
COT : Downtrend ( MM-Last Week)
Daily COMEX Vault status : Withdrawal(Lowest Level since June 2020)🔔
POC: Uptrend (Previous day )
S1 :1692.97
R1:1732.32
PD Low : 1680.74
PD High:1720.07
DXY Last day candle :Bullish