Gold - Weekly Outlook
Buying Dips in front of $2,016 (stop at $1,966)
Continued buying pressure resulted in Gold breaking the previous high of 2075 and trading to a record 2145. Strong selling pressure resulted in all the initial daily gains being overturned while posting a bearish Outside Candle on the daily chart. Although this formation will often highlight the top of a trend and the start of a new downward bias, we look for the initial dip to find buyers. Expect volatile trading. Th long-term outlook is still bullish.
Our profit target is $2,120 and $2,130
Resistance: 2076 / 2120 / 2130
Support: 2016 / 1977 / 1932
Buying Dips in front of $2,016 (stop at $1,966)
Continued buying pressure resulted in Gold breaking the previous high of 2075 and trading to a record 2145. Strong selling pressure resulted in all the initial daily gains being overturned while posting a bearish Outside Candle on the daily chart. Although this formation will often highlight the top of a trend and the start of a new downward bias, we look for the initial dip to find buyers. Expect volatile trading. Th long-term outlook is still bullish.
Our profit target is $2,120 and $2,130
Resistance: 2076 / 2120 / 2130
Support: 2016 / 1977 / 1932
Nota
Gold has traded to $2016
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.