CFD Oro (US$/OZ)Short
Gold Buy Zone
D1 - We have a good up trend line and is already very close to it. We can look for buys as long as 1214 zone holds.
H4 - Triple cycle would end at 1220 zone which is also a magnet zone and a very strong supportive area of the D1 swing low.
1234 is the Fibonacci expansion 61.8% along with the daily trend line. Price already bounced from it, providing a good movement up. Keep in mind price is already in a good place for buys.
Summary - Until the 1234 zone holds we can look for buy opportunities already. Next zone to follow is slightly lower around 1220.
H4 - Triple cycle would end at 1220 zone which is also a magnet zone and a very strong supportive area of the D1 swing low.
1234 is the Fibonacci expansion 61.8% along with the daily trend line. Price already bounced from it, providing a good movement up. Keep in mind price is already in a good place for buys.
Summary - Until the 1234 zone holds we can look for buy opportunities already. Next zone to follow is slightly lower around 1220.
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