The latest market price movement is moving horizontally after a strong fall occurred last week. But will the gold market be able to go lower or rise to higher levels?
My analysis today sees from the gold price movement that it is likely to continue the horizontal movement today until it goes through a clearer setup to continue the stronger decline.
This is because I saw earlier this morning the price made a decline but did not manage to pass the 1745.00 price which was the last support area tested before.
For that, I see the potential to sell at this point to be a short-term trade only for early this morning. As well as the current market changes are likely to make the rise to a more comfortable level.
Among the prices that can be assessed for each price change are 1745- 1750- 1755- 1760- 1765. This is because in a horizontal movement the price moves and performs a setup that can be seen on the M15 timeframe. The assessment of the risk ratio is between 1: 1 - 1: 2
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