Gold breaks ATH again, 2400 in sight?
Updated
Hello traders, yesterday, I published an idea about Gold going back up again
after hitting the 2325 level. As you can see, price moved up more than 40 usd(400 pips)
after hitting the 2325 zone.
Currently, Gold is in a pullback phase after reaching the highs of 2365. Over the past few
days, all dips in gold have been bought by the bulls. If you notice the 15 min chart,
the dynamic support level(100 period EMA) has remained unbroken
So, if this trend continues, we might see another bullish leg after price touches the 2340-2345 zone. Targets would be 2365 and eventually 2400.
Note that, I do not have any open positions in Gold at the moment
after hitting the 2325 level. As you can see, price moved up more than 40 usd(400 pips)
after hitting the 2325 zone.
Currently, Gold is in a pullback phase after reaching the highs of 2365. Over the past few
days, all dips in gold have been bought by the bulls. If you notice the 15 min chart,
the dynamic support level(100 period EMA) has remained unbroken
So, if this trend continues, we might see another bullish leg after price touches the 2340-2345 zone. Targets would be 2365 and eventually 2400.
Note that, I do not have any open positions in Gold at the moment
Note
Moving up as expectedNote
While the dynamic support on the 15 min chart is holding, we have some bearishness building up. Tomorrow would be a test for the bulls. Let’s see if the sellers can strike back tomorrowNote
The zone holds and gold is back above 2360Note
Gold has breached 2400 as mentioned in the idea title
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.