GOLD 19/06: Start a new week

19 giu 2023

GOLD Gold Price jostles with a convergence of the 50, 100 and 200 Exponential Moving Averages (EMAs), not to forget the 50% Fibonacci retracement of its June 02-15 downside, near 1,955$-1954$.

In doing so, the XAU/USD extends the previous pullback from a fortnight-old descending resistance line, around 1,965$ by the press time, amid bearish MACD signals.

That said, the RSI (14) line is below 50.0 and suggests bottom-picking in the Gold Price.

Hence, the GOLD buyers may remain hopeful unless witnessing a clear break of a two-week-long horizontal support zone surrounding 1,940$-1938$, even if the bears conquer the 1,955$ support confluence.

With the above comments, I expect a buying GOLD price zone at 1837-1945. My expectations when gold bounces are 1950$, 1960$ and finally 1965$

You can also sell gold in the 1967$-1970$ zone

My stoploss zone is around 50pip for each of your trading signals

20 giu 2023

Trade attivo

This morning, gold was close to the entry point, everyone take note