Gold Trend 08/06
Gold remained in a tight range yesterday. The day began at 1840; the buying orders came into the market once the price had touched the day-low early in the Asian session. The price gradually climbed toward the day-high near 1855 before the day's end. The market ended up closed at 1851, up by USD 11.
In the past 48 trading hours, the trading was bounded by a relatively tight range between 1840-60. Before a new structure is being developed on the 1-hour chart, can continue to take advantage of the overall 1830-70(2) pattern.
The overall structure hasn't changed much; still, the 1835-65 range is controlling the daily chart for the moment. Be patient for now.
S-T Resistance:
1865
1860
1850
Market price: 1848
S-T Supprots:
1840
1835-37
1830
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
In the past 48 trading hours, the trading was bounded by a relatively tight range between 1840-60. Before a new structure is being developed on the 1-hour chart, can continue to take advantage of the overall 1830-70(2) pattern.
The overall structure hasn't changed much; still, the 1835-65 range is controlling the daily chart for the moment. Be patient for now.
S-T Resistance:
1865
1860
1850
Market price: 1848
S-T Supprots:
1840
1835-37
1830
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
P. To @ 1uptick Analytics
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