Gold Trend 22/07
Gold rallied from the weekly low yesterday. The price traded between 1805-10 throughout the Asian session. It has touched day-high 1813 right before the European session opening, and the fall began. Once it broke the S-T supports line(1), the price has gone all the way to 1795. The day ended at 1804, down slightly by USD3.
The structure has changed much on the 1-hour chart. As mentioned at the beginning of the week, the price is now back to the horizontal range of 1790-1815(2). After the price supported at 1795 yesterday, the bottom of the range will now change to 1795. Once again, for the upside, if the price crosses the S-T resistance line(1), it should again revisit the top of the range.
The trend remains within 1795-1825(5) on the daily chart, and the price is currently supported by the 20 days MA. The daily market closing price has been staying within 1802-1813(6) for the past few trading days. It will be the initial step for a trend shifting if the daily closing price ends outside of zone(6).
S-T Resistances:
1810
1805
1800
Market Price: 1798
S-T Supports:
1794-5
1790
1785
If you like our analysis, please give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
The structure has changed much on the 1-hour chart. As mentioned at the beginning of the week, the price is now back to the horizontal range of 1790-1815(2). After the price supported at 1795 yesterday, the bottom of the range will now change to 1795. Once again, for the upside, if the price crosses the S-T resistance line(1), it should again revisit the top of the range.
The trend remains within 1795-1825(5) on the daily chart, and the price is currently supported by the 20 days MA. The daily market closing price has been staying within 1802-1813(6) for the past few trading days. It will be the initial step for a trend shifting if the daily closing price ends outside of zone(6).
S-T Resistances:
1810
1805
1800
Market Price: 1798
S-T Supports:
1794-5
1790
1785
If you like our analysis, please give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To @ 1uptick Analytics
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.