Last week was the first week this year to close lower.
$3,000 is a huuuge psychological level for gold to reach so it is expected for price action to faulter and present rangebound conditions just below that price.
The weekly BISI @ 2817 - 2860 has been respected, with the consequent encroachment holding weight but there is still a chance on the lower timeframes for gold to drop back into this area
$3,000 is a huuuge psychological level for gold to reach so it is expected for price action to faulter and present rangebound conditions just below that price.
The weekly BISI @ 2817 - 2860 has been respected, with the consequent encroachment holding weight but there is still a chance on the lower timeframes for gold to drop back into this area
Trade closed: stop reached
Mid-week analysis.
The movement to the downside was not sufficient for me.
High chance the lows has been booked for the week.
Anticipating a draw to 2930
UK, London
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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.
UK, London
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.