Gold is Bouncing off Strong Support

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The Gold has dropped towards 1561 support during the extremely volatile Asian session. Risk-on has been dominating the market.

At this point Gold is trying to reach next zone of resistance. 1605-1608 is the zone to watch. If it breaks higher then the final target is 1620. However a drop below 1600, might be a bit bearish for the pair and the next target is a retest of 1550 again. Watch for potential selling the rallies today and buying the dips close to above mentioned levels.

The analysis has been done with the CAMMACD system.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of

🍿️ Discover your path to a 100% yearly returns over the convos with Chris Svorcik!

X