GOLD
Currently, gold has a clear trend for a pennant pattern in favor of buyers. That said,
GOLD
marked a higher low and received support from the ascending RSI, forming a higher low on the oscillator thereby confirming the market's ascending trend towards the metal. yellow. Therefore,
GOLD
is well-established to challenge the top line of the stated trading range, near 1975$. However, breaking that looks tough as multiple hurdles build up challenging Gold buyers around the 2,000$ psychological magnet. On the downside, a daily close below the 100-DMA support around 1,945$ despite the bullish histogram signals and could drag Gold Price towards the 1975$-1980$ support area, including the levels assessed. stamped in February and March 2023.
After gold appeared a pennant pattern in favor of buyers, I consider a buy
GOLD
contract around the area 1958$-1962$ Stop loss is 100pips for every order you trade
Note: Set SL and profit base to close, hope we will win big together
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