Gold stuck in a tight range yesterday. The price reached the day high 1785 at the Asian session, and it has traded between 1772-82 thereafter, with the day ended at 1778. The pattern hasn't changed much on the 1-hr chart, range-bound remains in 1772-1790. A downward triangle(1) has formed in the past 48 hours. Price will climb to 1790 if the resistance breaks; on the other hand, if the price breaches the support, the downside will be near 1760 or lower.
Gold is still showing a sign of weakness while the price failed to close above 1780 in the past few trading days. It is pressured by the 10 days MA at the moment, awaiting the breakthrough.
S-T Resistances:
1790
1785-86
1780
Market price: 1774
S-T Supports:
1772-73
1768
1760
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
Gold is still showing a sign of weakness while the price failed to close above 1780 in the past few trading days. It is pressured by the 10 days MA at the moment, awaiting the breakthrough.
S-T Resistances:
1790
1785-86
1780
Market price: 1774
S-T Supports:
1772-73
1768
1760
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
P. To
