Gold is reaching major support area around 1530. The support
is from 26 of September low and 29 of December low. On a shorter time frame (H4
charts), there is a bullish divergence of the MACD indicator. The divergence is
signal to a turning point in the price of gold. A buy order can be placed above
1560 with SL below daily low at 1547.90. The first target will be 1575 level
and final target for a bullish move will be the resistance area around 1625. If
this trade fails, look to buy again around that level when the right setup is
created.
No comments:
Post a Comment