Gold is at Important Support

2 min read
tarantula fx

tarantula fx

Head of Trading

The Gold shows a bullish trend and it is still capped above the W H4 Pivot. However it could drop to D H3 where the next decision will be made

The Gold is still in uptrend but at this point it is held above the important pivot and the trend line. We could see a bounce from the POC zone or drop below the D L3. If the price spikes from the zone targets are 1355 and 1363. However a drop below the D L3 will target a trend line – 1343 and possibly 1335. Look for either a bounce or break below the POC zone. During the first two hours of London session, the price has been slow, so we might expect higher volatility during the US session.

Good trading,
Nenad Kerkez aka Tarantula FX

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