GOLD FUTURES Holding on Support
The GC daily time frame found support at a known
level of U-turn around price point 1675.00. The
market is showing signs of pushing bullish and
creating a new bullish trend. It will be a good
idea to wait for the market to break the short
term down trend line and enter back into the
buy zone before looking for buy trades.
As of now, the one hour time frame is showing a downtrend. If I had to give a price to where we could say the buyers took back control. It would be above 1825.. But that is only because the markets had a large bearish push and there is no bull structure off the one hour time frame. In the coming days, we are expecting a bullish trend to form on the one hour time frame and we should be able to provide an update on when the buyers could take control.
level of U-turn around price point 1675.00. The
market is showing signs of pushing bullish and
creating a new bullish trend. It will be a good
idea to wait for the market to break the short
term down trend line and enter back into the
buy zone before looking for buy trades.
As of now, the one hour time frame is showing a downtrend. If I had to give a price to where we could say the buyers took back control. It would be above 1825.. But that is only because the markets had a large bearish push and there is no bull structure off the one hour time frame. In the coming days, we are expecting a bullish trend to form on the one hour time frame and we should be able to provide an update on when the buyers could take control.
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