Gold stayed within a tight USD15 range yesterday. Carried the selling momentum from last Friday, the price has touched the day-low early in the Asian session, then rallied slowly away from the bottom. The fluctuation has amplified during the US session, reached the day high at 1798. The day ended near 1793, up slightly by USD5.
As mentioned before, the buying support has been strong below 1785, and the selling slowed down further yesterday after the price has broken out from the S-T resistance line(1). The range 1784-1810 range(2) is still good for the next 24 hours.
The structure has changed on the daily chart, for the time being, continues to take advantage of zone (3).
S-T Resistances:
1805-7
1800
1793-95
Market price: 1791
S-T Supports:
1790-88
1785
1780
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As mentioned before, the buying support has been strong below 1785, and the selling slowed down further yesterday after the price has broken out from the S-T resistance line(1). The range 1784-1810 range(2) is still good for the next 24 hours.
The structure has changed on the daily chart, for the time being, continues to take advantage of zone (3).
S-T Resistances:
1805-7
1800
1793-95
Market price: 1791
S-T Supports:
1790-88
1785
1780
If you like our work, please give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P.To
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