Wednesday, 8 December 2021

Today's Gold Analysis

 XAUUSD H1

 The duration of yesterday’s movement which only moved in a steady-state formed an uptrend trend after the US session opened last night.

 The language of the chart shows that the price of 1772.00 was tested late last night and the trendline was tested as well as forming a bullish engulfing timeframe M15 and a $ 10 rise until early this morning took place.

 Yet overall the market price is now still dominated by price movements in a downtrend, therefore I attach a potential key level for the price to move today.

 R1: 1788.00

 R2: 1794.00

 R3: 1804.00

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 S1: 1782.00

 S2: 1776.00

 S3: 1767.00

 Trading is currently encouraged to look at a low timeframe to see the best trading potential to buy or sell.  All these trades need to be done using the amount of "initial capital" that is willing to risk.

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