GOLD 21/06: Positive gold price

GOLD The Gold Price has already breached the two short-term key supports around 1,935$ and 1,930$ respectively. However, the 1,928$ round figure and the previous bottom of around 1,925$ prods the XAU/USD bears on an important day.

Meanwhile, the previous monthly low of around 1,930$ prods the Gold buyers ahead of the Fibonacci 23.6% on the daily and weekly chart, around 1,935$.

It’s worth noting that the Gold Price run-up beyond 1,935$ will need to stay firmer past the 1,940$ hurdle comprising the Fibonacci 38.2% on the weekly chart to push back the bearish bias.

I noticed that on the 4h chart there are 34 EMA and 89 EMA. When gold went up the price zone 1945-1948. I expect a sell GOLD order here. My expectation is a return to the old bottom at 1930.

Stop loss at 70pips per trade. Set stop loss to win the market

Komen:

Gold only stopped at 1940$ and returned to 1919$. Far beyond the expected goal