gold market strategic outlook 2024

🔸Hello guys, today let's review 2daily price chart for gold. Ongoing accumulation
in progress since 2020, strong chart overall, however expecting short/mid-term weakness
before reversal. Accumulation not complete yet, final low print required to complete
the sequence and flip market into bull mode.

🔸Range lows defined at 1715 usd, range highs set at 2000 usd, resistances overhead
at 2 050 / 2100 usd and key supports below near 1650/1700 USD. Short-term /
mid-term outlook: rejection on high volume near 2125 usd locks further upside
and therefore pullback required for re-accumulation.

🔸We are trading in well-defined range since August 2020, current risk/reward
favors bearish pullback and it's recommended for the bulls to focus on buying
low later after the pullback. Valid target for bulls after pullback near 2300/2450 USD.

🔸Recommended strategy position traders: BULLS should remain on sideline and
focus on buying low later after pullback completes near range lows. accumulate/buy
low, TP1 2300 USD TP2 is 2450 USD, keep in mind this is a swing trade setup and
more patience required. good luck traders!

🎁Please hit the like button and
🎁Leave a comment to support our team!

RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

Bình luận:

pullback in progress currently