GOLD is at Important Crossroads

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

GOLD is at important zonal support. It will be either make it or break it. A bounce off 1675 or a drop below 1662.

Gold has dropped towards historical support (near term) at 1662 after the NFP data on Friday. W L3 shows a confluence with other data points so we might expect sellers within the 1710-1718 zone. Targets are 1675 and 1662. However, if 1662 breaks, the next target is 1629, so Gold downtrend might continue. Only a break of 1752 might put it in uptrend.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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