Gold is waiting for a major breakout
GOLD
At 2000.00 level is the major resistance for the Gold at this juncture it rejected thrice in 4Hr time frame and reached broadly 1900.00
And bounced after touching the longer trend line which is the major barrier for the bear.Currently its trading in between the 38.2% Fibonacci level and 23.6 % Fibonacci level.
IF the upside level broken then the price will reach 1960.00 which is a trend line resistance area.On Friday the price broke the major trend line and retested at the time of market closing time. And we can see a morning star pattern at this level
Monday price action will decide the direction of the safe heaven metal. The next target level for bear is 1840.00. Stop lose may place above the 1960.00 level
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
It’s not a financial advice. Do the analyze and take a decision.
At 2000.00 level is the major resistance for the Gold at this juncture it rejected thrice in 4Hr time frame and reached broadly 1900.00
And bounced after touching the longer trend line which is the major barrier for the bear.Currently its trading in between the 38.2% Fibonacci level and 23.6 % Fibonacci level.
IF the upside level broken then the price will reach 1960.00 which is a trend line resistance area.On Friday the price broke the major trend line and retested at the time of market closing time. And we can see a morning star pattern at this level
Monday price action will decide the direction of the safe heaven metal. The next target level for bear is 1840.00. Stop lose may place above the 1960.00 level
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
It’s not a financial advice. Do the analyze and take a decision.
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Penafian
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