Let's see how GOLD is behaving.
This is a 1D chart. (Mid Term)
There is a solid resistance area on the way up, which requires massive buy volumes to reach and cross.
There is only one support level on the way down, holding the value up.
The price is at the local resistance zone, which might get rejected.
If we pass this resistance level, after the confirmation, you can put the solid resistance level as your target.
The marker is showing sell volumes for GOLD.
The RSI shows that GOLD is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $1855.57
Let me know your ideas.
Good luck.
This is a 1D chart. (Mid Term)
There is a solid resistance area on the way up, which requires massive buy volumes to reach and cross.
There is only one support level on the way down, holding the value up.
The price is at the local resistance zone, which might get rejected.
If we pass this resistance level, after the confirmation, you can put the solid resistance level as your target.
The marker is showing sell volumes for GOLD.
The RSI shows that GOLD is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $1855.57
Let me know your ideas.
Good luck.
