Following the upbeat on the back of the November jobs report, the price of the yellow metal appears to be stalling at the key level of $1,800. Technically, signs of buying exhaustion continue as selling pressure are observed below the $1,805/1,800 zone towards the end of last week's trading session. In this video, we looked at the chart from a technical standpoint where we were able to figure out set-ups to look out for to either buy or sell the Gold in the coming week(s).
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The week has started on a bullish note as price breaks out of the $1,800 level. Now, is this a false or True breakout? I have missed this move hence, the need to remain patient and wait for price action to present an opportunity in the form of a trend continuation pattern or reversal pattern to open a position. Update coming up soon.Good morning
Trade active
The waiting still continues.Trade active
Sell position taking out as buy pressure emerges leading to a breakout of the $1,780 level. Considering the bearish perspective since the beginning of the week, I am of the opinion that this might be a retracement move after which we shall be looking for selling pressure to join the potential second wave of bearish momentum.Trade smart. Trade consciously
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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.
Trade smart. Trade consciously
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.