There has been a strong bullish week for Gold, with the price rising 900 pips from the bottom to the top.
However, after the recent top near the ATH, the price corrected and started to consolidate in a 300 pips range.
I expect Gold to continue its consolidation through the day, but, with a very strong and clear up trend, the best approach is to buy dips, not sell rallies.
In conclusion, yesterday's low should offer support and in this zone, traders should look for buying opportunities.
2060 could offer a good target zone for short-term traders.
However, after the recent top near the ATH, the price corrected and started to consolidate in a 300 pips range.
I expect Gold to continue its consolidation through the day, but, with a very strong and clear up trend, the best approach is to buy dips, not sell rallies.
In conclusion, yesterday's low should offer support and in this zone, traders should look for buying opportunities.
2060 could offer a good target zone for short-term traders.
📈 Forex & XAU/USD Channel:
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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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.