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GOLD Technical Overview And Trade Opportunity

GOLD Technical Overview And Trade Opportunity

We have entered another short trade yesterday targeting 1187.50.

As seen on the chart, 1187.50 remains as the critical support. XAUUSD.

Gold made an attempt to break out 1187 support yesterday, but without a success.

It is trading below EMA 50 and SMA 100 on the H4 Chart.

1191 is the weak support, breakout of 1191 will carry the price 1187.50.

We need to see a H4 closing below 1187.50. This strong breakout will confirm the 1179 and 1172 levels.

Bearish pressure will remain below 1218 USD.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

 

Gold Overview:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibilit

 

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