Gold Breakout Pending
Gold has continued to consolidate within the June 7th trading range (the highlighted NFP outside-day reversal candle). . The focus into the start of June is on a breakout of 2286-2387 range for guidance.
Key support 2277/86
Initial resistance 2368 with 2387 key.
From a trading standpoint, while the broader outlook is still constructive, the threat for a deeper correction remains while within this formation. Ultimately, we are on the lookout for evidence of an exhaustion low in the weeks ahead with a breach above 2387 needed to fuel the next leg in price.
Michael Boutros
Sr Technical Strategist
MBForex
Key support 2277/86
Initial resistance 2368 with 2387 key.
From a trading standpoint, while the broader outlook is still constructive, the threat for a deeper correction remains while within this formation. Ultimately, we are on the lookout for evidence of an exhaustion low in the weeks ahead with a breach above 2387 needed to fuel the next leg in price.
Michael Boutros
Sr Technical Strategist
MBForex
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.