In yesterday’s analysis, I mentioned that Gold looked overstretched, with high chances of a continuation of the correction after the recent 3579 ATH.
During the day, price rejected my selling zone twice, and once more overnight. However, buyers kept stepping in, forming higher lows and pushing price back toward the 3560 resistance zone. This behavior signals upward pressure.
If this resistance finally breaks, the probability of seeing yet another ATH towards 3600 increases significantly.
For now, I’m out of the market, with but looking to buy if buying pressure persists
During the day, price rejected my selling zone twice, and once more overnight. However, buyers kept stepping in, forming higher lows and pushing price back toward the 3560 resistance zone. This behavior signals upward pressure.
If this resistance finally breaks, the probability of seeing yet another ATH towards 3600 increases significantly.
For now, I’m out of the market, with but looking to buy if buying pressure persists
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.