In our previous post, we have mentioned that a break out of the 1679 region can push price towards 1730.
Price has now broke out of the major resistance region but this momentum is unsustainable and will likely experience a retracement. In pattern trading, it is unsustainable for price to begin reversal from the support level and straight breaking out of the resistance level. The 1709 support region will act as a crucial support level as any breakout towards the downside would likely push Gold below the 1700 region. As such, any reversal confirmation of the 1709 support can provide a potential long entry for people who missed out.
Price has now broke out of the major resistance region but this momentum is unsustainable and will likely experience a retracement. In pattern trading, it is unsustainable for price to begin reversal from the support level and straight breaking out of the resistance level. The 1709 support region will act as a crucial support level as any breakout towards the downside would likely push Gold below the 1700 region. As such, any reversal confirmation of the 1709 support can provide a potential long entry for people who missed out.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.