Gold stands at 1,743 level after registering sharp movements on Friday. The price has reached a strong resistance area, so the sell-off was somehow expected.
Now is fighting hard to stay higher, the next few days could be crucial. It has erased some of Friday’s losses but the rate is still vulnerable. The yellow metal could decline further if the US Dollar Index increases after its corrective phase.
As you can see on the h4 chart, XAUUSD has found resistance at 1,755 static upside obstacle. Now is traded below the weekly R1 and under the daily pivot point (1,749).
Its failure to stabilize above the ascending pitchfork’s median line (ml) signaled that the buyers are exhausted. The 1,735 and the inside sliding line are seen as critical support levels. Dropping and stabilizing under these levels may bring a short opportunity.
Gold it’s trapped between 1,755 and 1,676 levels, within a range. A valid breakout from this pattern should bring a great trading opportunity.
If you want to receive the next buying or selling signal on Gold just subscribe to the VIP channel HERE
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.