Gold Trend 19/10
Gold traded in a tight range yesterday. The overall daily movement was pretty much like the day before - pulling back before the day's end.; the price climbed to the day-high 1660 in the early session and retraced back to the opening price of 1650 before the day's end.
The S-T trend is still controlled by the S-T downtrend resistance (1.1) that was mentioned yesterday. Overall, the market is bearish. However, the short-selling before 1650 is still relatively weak. Due to the lack of momentum, expect the price to remain within 1640-65(2) until it escapes.
The pullbacks before the day's end on the second consecutive day have created another bearish signal on the daily chart. Wait for the signal; a new round of selling should only begin if the price close below 1650 on the daily chart; before that, the price should continue to wander around 1650.
S-T Resistances:
1665
1660
1655
Market price: 1651
S-T Supports:
1650
1645
1640
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
The S-T trend is still controlled by the S-T downtrend resistance (1.1) that was mentioned yesterday. Overall, the market is bearish. However, the short-selling before 1650 is still relatively weak. Due to the lack of momentum, expect the price to remain within 1640-65(2) until it escapes.
The pullbacks before the day's end on the second consecutive day have created another bearish signal on the daily chart. Wait for the signal; a new round of selling should only begin if the price close below 1650 on the daily chart; before that, the price should continue to wander around 1650.
S-T Resistances:
1665
1660
1655
Market price: 1651
S-T Supports:
1650
1645
1640
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
P. To @ 1uptick Analytics
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.