Two great sell opportunities on this chart for GOLD

Mid-Term Forecast:

Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1976.68).
if so, traders can set orders based on Price Action and expect to reach short-term targets."

Technical analysis:
. GOLD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.

Take Profits:
TP1= @ 1912.35
TP2= @ 1846.24
TP3= @ 1760.04
TP4= @ 1682.08
TP5= @ 1544.91

SL: Break Above 1992.96

-------------------------------------------------------------------------------------------------------------------

Short-Term forecast:

Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1957.84).
if so, traders can set orders based on Price Action and expect to reach short-term targets."

Technical analysis:
. GOLD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.

Take Profits:
TP1= @ 1908.37
TP2= @ 1880.00
TP3= @ 1840.00
TP4= @ 1789.38
TP5= @ 1748.02

SL: Break Above 1992.04

❤️ If you find this helpful and want more FREE forecasts in TradingView

. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!

❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?

Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.

Trade well, ❤️
ForecastCity English Support Team ❤️