Hello my friends, today I want to talk with you about XAU.
Price being in range already more than 2 years, from around 10 April 2020.
And from around 7 March this year gold is in local downtrend from resistance level 2075 USD.
For now I think price is coming to bottom part of range, support level 1675 USD.
And from support level I expect price to reverse at least for local uptrend (upward correction).
I think strong intermediate resistance level is will be 1770 USD
Well, around bottom part of range will be good possibility to open long position with target around 1770 USD and stop loss below support level.
So be ready for such scenario.
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you.
Price being in range already more than 2 years, from around 10 April 2020.
And from around 7 March this year gold is in local downtrend from resistance level 2075 USD.
For now I think price is coming to bottom part of range, support level 1675 USD.
And from support level I expect price to reverse at least for local uptrend (upward correction).
I think strong intermediate resistance level is will be 1770 USD
Well, around bottom part of range will be good possibility to open long position with target around 1770 USD and stop loss below support level.
So be ready for such scenario.
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you.
