GOLD 23/06: Sell are still dominating

23 giu 2023

GOLD Gold price drops to new 14-week low as bears approach key 1903$ support confluence. Gold is still on track to post its biggest weekly drop since late January as the US Dollar cheers the market's risk-off sentiment, as well as Federal Reserve concerns. hawkish state (Fed).

A downside break of the 1,903$ support confluence will need confirmation from the 1,900$ round figure, which also includes the one-day Pivot Point S2, before hosting a party for the Gold sellers.

Conversely, the previous daily low and the 5-HMA limit immediate gains around 1,915$ before directing Gold buyers towards the 38.2% one-day Fibonacci level, around 1,922$.

I think the strategy of selling GOLD is extremely favorable around the 1925-1930 zone. My expectations are in the 1905$ zone

Stop loss around 70 pips for each signal you trade

23 giu 2023

Trade attivo

The entry point is activated, are you ready