Indices and commodities
#GOLD
Long
Active
Gold arrives at resistance: key levels to watch for FOREXCOM:XAUUSD by FOREXcom
TradingView
GOLD
Indices and commodities
Active
Current price
4620.02
USD
PNL
+0.10%
4620.02 USD
Stop Loss
1.84%
4530.33 USD
Take Profit
1.84%
4700.17 USD
Rationale
TradingView idea: Gold arrives at resistance: key levels to watch for FOREXCOM:XAUUSD by FOREXcom
TradingView symbol: XAUUSD
Gold has entered into a key resistance zone between $4,607 to $4,666 area, as shaded on the 4H chart. Here, it is testing prior support. Could this zone now turn into resistance and trigger another wave of selling? Recent trend has been bearish on gold given the lower highs etc.
If we get a breakout instead, then this could give rise to some technical buying towards the $4,700 and eventually $4,800 area, with the next obvious resistance band seen between $4,841 to $4,890.
Support or bearish …
Key details
- Ticker
- GOLD
- Asset class
- Indices and commodities
- Direction
- Long
- Status
- Active
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