GOLD 4H :Gold price is under negative pressure
GOLD
OUTLOOK
The price perfectly fulfills my last idea and price reached to our second target .
Technical abstract :
The price of gold traded with noticeable negativity yesterday to test the pivotal support 1909, where it falls under the negative pressure formed by the descending channel, noting that there are negative structural features that may pressure the price to turn lower if the aforementioned support is broken.
Therefore, we prefer to remain neutral until the price confirms its position regarding the 1909 level, noting that breaking this level will put the price under negative pressure that aims to visit the areas of 1903 and then 1890 as the next main stations, while consolidation above 1916 it will lead the price to recover again and head towards 1930. In the near term.
Additionally ,Today News will affect the market .
support line : 1903 , 1890
resistance line : 1916 , 1930
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
The price perfectly fulfills my last idea and price reached to our second target .
Technical abstract :
The price of gold traded with noticeable negativity yesterday to test the pivotal support 1909, where it falls under the negative pressure formed by the descending channel, noting that there are negative structural features that may pressure the price to turn lower if the aforementioned support is broken.
Therefore, we prefer to remain neutral until the price confirms its position regarding the 1909 level, noting that breaking this level will put the price under negative pressure that aims to visit the areas of 1903 and then 1890 as the next main stations, while consolidation above 1916 it will lead the price to recover again and head towards 1930. In the near term.
Additionally ,Today News will affect the market .
support line : 1903 , 1890
resistance line : 1916 , 1930
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
As we expect ,the price reached to our first target which is 1909 and now on the way to reach 1903 ,the second target will be depend on the stabilized under 1909