GOLD > Accumulation or Distribution?!

5 thg 6, 2020

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Analysis of #GOLD #XAUUSD

Gold is challenged and not able to rally even with a weak dollar is facing competition from the return on bonds and indices.

As we can from the chart gold never closed above the high of April 13 @ 1747, some traders might consider gold has mad triple tops or even quadruple tops

On the other hand, gold remains supported above 1700 and a break below that level will lead to a swift move to 1580 and maybe 1500.

I believe gold should be higher and we are in a long trade with members inside the signal service, will see today if NFP helps or hurts our trade.





⚠ Please note the ideas is valid only if it happened as I said above

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Check today analysis below

Stay safe everyone
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Disclaimer: this information is not a recommendation to buy or sell. It is to be used for educational purposes only*