Candle D shows a strong selling force approaching the key support zone of 3200, if it breaks this zone, it will confirm the continuation of the strong downtrend
Gold is facing some selling force around 3265. There will be a lot of selling force waiting around 3270 and 3280. Today, you can watch for SELL around these two zones. If the breakout is confirmed towards 3317, you can implement SELL strategies.
On the contrary, the nearest support zone for the breakout that gold is aiming for is around 3243. 3222 and 3200 act as two stops for a prolonged slide in gold prices today. Remember that in the large frame, a downtrend wave is starting to form, so the downtrend of gold can fall very strongly.
Gold is facing some selling force around 3265. There will be a lot of selling force waiting around 3270 and 3280. Today, you can watch for SELL around these two zones. If the breakout is confirmed towards 3317, you can implement SELL strategies.
On the contrary, the nearest support zone for the breakout that gold is aiming for is around 3243. 3222 and 3200 act as two stops for a prolonged slide in gold prices today. Remember that in the large frame, a downtrend wave is starting to form, so the downtrend of gold can fall very strongly.
Trade active
Gold holds below $3,250 on improved risk sentimentGold price trades in negative territory around $3,245 during the early Asian session on Wednesday. Improved risk appetite in the financial markets due to a tariff deal between the United States and China weighs on the yellow metal, a safe-haven asset. Traders will focus on the Fedspeak later on Wednesday.
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JOIN OUR FREE TELEGRAM GROUP t.me/+7rqP7ECMjpUxMzBl
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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.