Institutional investors are getting ready to take profit and cover their shorts on gold. Price could spike.
Price is hitting a strong resistance and about to cross the 180 days MA. If break is confirmed, a safe entry is possible. Based on my wave count and aggressive method, I'm aiming for entry at the1195. I believe we could reach the 1225 resistance level before another pullback.
Price is hitting a strong resistance and about to cross the 180 days MA. If break is confirmed, a safe entry is possible. Based on my wave count and aggressive method, I'm aiming for entry at the1195. I believe we could reach the 1225 resistance level before another pullback.
Note
Price dropped below the resistance I called earlier. However, price is testing the 38% retracement from the A leg of the correction move. This is suggesting that price could bounce from there. If it breaks below 1190, then the entire outlook will be different and we could go back to the 1165 resistance.
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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.