Gold Pulls Back on Profit-Taking, Bulls Defend the $4000 Level
Yesterday, gold faced a quick sell-off, likely triggered by the profit-taking of large institutions (manipulators), and corrected by almost 8.6%.
Considering that this move was created without news, it is a clear sign of manipulation. We cannot consider overbought conditions, as they have been in this state for 2 years.
The lower low was created near 4000, where the price found the bulls well-positioned near that psychological price zone.
Gold remains bullish and could rise again as shown in the chart.
It will break the 4000 level only if a larger manipulation unfolds again today or during the next week.
The price should rise again with targets at 4190; 4250; 4300 and 4350.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Yesterday, gold faced a quick sell-off, likely triggered by the profit-taking of large institutions (manipulators), and corrected by almost 8.6%.
Considering that this move was created without news, it is a clear sign of manipulation. We cannot consider overbought conditions, as they have been in this state for 2 years.
The lower low was created near 4000, where the price found the bulls well-positioned near that psychological price zone.
Gold remains bullish and could rise again as shown in the chart.
It will break the 4000 level only if a larger manipulation unfolds again today or during the next week.
The price should rise again with targets at 4190; 4250; 4300 and 4350.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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✅Suggested News Channel
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✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
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.