Preferred direction: Neutral
Comment: Gold worked out our long scenarios perfectly once again, and as we noted in previous trading ideas, the level of 2200 was reached as a target. Today, gold will most likely trade around the 2200 level. Further growth is not considered as optimistically as before.
We highlight two scenarios for this instrument, where Scenario №1 assumes a corrective movement towards support 2150. Before this, most likely there will be an attempt to update the current maximum. Scenario №2 - assumes that buyers will not ease the pressure on sales and the metal will accumulate in a small balance at the level of 2200 for some time. This development of events according to Scenario №2 will most likely lead to another small upward impulse. The approximate target range in this case is the area 2250 - 2300.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: Gold worked out our long scenarios perfectly once again, and as we noted in previous trading ideas, the level of 2200 was reached as a target. Today, gold will most likely trade around the 2200 level. Further growth is not considered as optimistically as before.
We highlight two scenarios for this instrument, where Scenario №1 assumes a corrective movement towards support 2150. Before this, most likely there will be an attempt to update the current maximum. Scenario №2 - assumes that buyers will not ease the pressure on sales and the metal will accumulate in a small balance at the level of 2200 for some time. This development of events according to Scenario №2 will most likely lead to another small upward impulse. The approximate target range in this case is the area 2250 - 2300.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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