Gold: Rejecting Off Support...No Form Of Breakout Yet!!!
As mentioned in my previous analysis on gold , gold have broken out of its trend and currently no new trend is forming instead price level is consolidating near the support and resistance zone. As of now, we can see that gold BEARISH movement is coming to a stop which may potentially call for a BULLISH opportunity. If gold is building BEARISH strength, we should see a rejection off 50-61.8 fib level. However, if gold continue climbing we can confirm our consolidation perspective. For now, a LONG trade to the 61.8 fib level will be a good opportunity for gold .
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.