Gold Trend 18/05
Gold pulled back from the 250 days MA yesterday. The day began at 1824; overall, the price traded between 1822-30 throughout the Asian/European sessions. Until the trading entered the US session, the price spiked to the day-high 1836, then the fall began. It dropped to the day-low at 1812, with the day ending at 1814, down by USD 9.
Gold has finally escaped the downward trendline(1), officially ending the downtrend that originated from 1909. Expect the S-T trend to transform horizontally to an 1800-30 range-bound on the 1-hour chart until the next breakout.
The buying momentum is not strong enough to push the price over the 250 days MA on the daily chart; gold is still maintaining its path within the downtrend channel(6). On the daiy chart, the closing price cannot close below 1810 so far. Pay close attention...where it will be a sign of the price heading toward a new low if the daily closing price ends below 1810(7) in the next few trading days.
S-T Resistances:
1830
1825
1820
Market price: 1810
S-T Supports:
1805
1800
1795-93
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
Gold has finally escaped the downward trendline(1), officially ending the downtrend that originated from 1909. Expect the S-T trend to transform horizontally to an 1800-30 range-bound on the 1-hour chart until the next breakout.
The buying momentum is not strong enough to push the price over the 250 days MA on the daily chart; gold is still maintaining its path within the downtrend channel(6). On the daiy chart, the closing price cannot close below 1810 so far. Pay close attention...where it will be a sign of the price heading toward a new low if the daily closing price ends below 1810(7) in the next few trading days.
S-T Resistances:
1830
1825
1820
Market price: 1810
S-T Supports:
1805
1800
1795-93
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.