Gold closed near day-high yesterday around 1786. Overall, the price is still running within the 1770-98 range in the 1-hr chart. An S-T double-bottom pattern has been formed in the past 48 hours, as the price broke the 1783 neckline, the S-T target is now set at 1791-96(1). An S-T support line(2) has also been formed in the past 24 hours, the current S-T climb will be finished if the price break this support line(2).
Awaiting for the market to further develop, gold remains in the 1768-92 range. While the price approaching the upper limit of the range, the 100 days MA(3) resistance is still good.
S-T Resistances:
1800
1793-97
1790
Market Price: 1790
S-T Supports:
1783
1780-78
1775
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Awaiting for the market to further develop, gold remains in the 1768-92 range. While the price approaching the upper limit of the range, the 100 days MA(3) resistance is still good.
S-T Resistances:
1800
1793-97
1790
Market Price: 1790
S-T Supports:
1783
1780-78
1775
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
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