Long
Gold Futures
the base of the channel is 6% or 7% bellow from now
the market will still medium term bullish if we don't break the low of the channel
When he broked 1850 level, market gone to 1828 zone area and this area was rejected, he don't consolidated there. This means that this selloff was impulsive, and not to change the direction off Gold.
If breaks 1800 we can go to 1774, but we still Medium term Bullish.
On Last 4h candle I see maybe a reverse of the fall, maybe 1828 was impulsive and we can go now above 1870 and maybe 1896. If we can cross 1894 we have confirmation for an uptrend again.
For me now, the best zones to buy will be 1800-1830 if 1800 didn't break or above 1870.
Sell if breaks 1800. But 1774 can hold the drop.
But I think that on lowterm perspective we have already signs for up. But on 1h and 4h we still bearish, we need confirmation above 1870 to change this scenario.
the market will still medium term bullish if we don't break the low of the channel
When he broked 1850 level, market gone to 1828 zone area and this area was rejected, he don't consolidated there. This means that this selloff was impulsive, and not to change the direction off Gold.
If breaks 1800 we can go to 1774, but we still Medium term Bullish.
On Last 4h candle I see maybe a reverse of the fall, maybe 1828 was impulsive and we can go now above 1870 and maybe 1896. If we can cross 1894 we have confirmation for an uptrend again.
For me now, the best zones to buy will be 1800-1830 if 1800 didn't break or above 1870.
Sell if breaks 1800. But 1774 can hold the drop.
But I think that on lowterm perspective we have already signs for up. But on 1h and 4h we still bearish, we need confirmation above 1870 to change this scenario.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.