GOLD is Rejecting of Support
May 14, 2021
1 min read
Dear traders,
Gold has bounced off the support 1805 but before it did it, it had also rejected the resistance as I covered in my previous analysis.
Today the uptrend in GOLD is expected. We should see a rejection of either 1810 zone on a retest of POC 1795. Whatever the case is, buying the dips is a good possibility. The first target is the previous resistance zone 1845. If we see a breakout watch for 1852 and 1870. As long as 1795 holds, bulls will have the opportunities for long trades.
The Analysis has been done with the Black Widow system.
Good trading,
Nenad Kerkez
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