Hello traders,
Hope you are doing all good. Today I'm going to analyse GOLD. As you know, We have seen yestersays range was 1920-1930. Too much sideways in that zone. We have also seen PMI news couldn't move gold drastically.
So I'm heading towards next week what will happen in next week. Remember also a monthly closing in next week.
The monthly range is 1900-1950. From my perspective We can see a low volatility in Monday. From Tuesday we can see a good amount movement in gold. The nearest Resistance is around 1930 which is weak at the moment. Because it has already tested multiple times. The fresh supply is around 1955-1960 level. I think gold will test this level in the coming days.
The opposite part is that the nearest support level is around 1907-1911 level.
Invalidation point is 1900.67
Thank you ,
Hope you are doing all good. Today I'm going to analyse GOLD. As you know, We have seen yestersays range was 1920-1930. Too much sideways in that zone. We have also seen PMI news couldn't move gold drastically.
So I'm heading towards next week what will happen in next week. Remember also a monthly closing in next week.
The monthly range is 1900-1950. From my perspective We can see a low volatility in Monday. From Tuesday we can see a good amount movement in gold. The nearest Resistance is around 1930 which is weak at the moment. Because it has already tested multiple times. The fresh supply is around 1955-1960 level. I think gold will test this level in the coming days.
The opposite part is that the nearest support level is around 1907-1911 level.
Invalidation point is 1900.67
Thank you ,