Well We have 3 Head and shoulder structures on 2H chart depicting the buyers pullbacks of the Low level. We have a ascending trendline and higher Highs and higher lows. And to mention a Cup and handle structure.
What this means... Gold is bullish? But Gold bulls has to surpass the 200 SMA on 4 H chart positioned at 1940 and and 100 DMA at 1949 as bears defense. If bulls breaks 1940-1942 Level i will see this Price shifting to a new range where 1940 is Floor and 1980 is the top. I aim 1970 as my first target in that case.
Lets see what fundamentals says. The potential pause / Slow Down of interest rate by FED after July FOMC has already been factored in by JPY and DXY. Gold has still to absorb that effect. Lets see how big boys interpret the tomorrow CPI for us.
Lets talk about support and resistance 1920 is the support (an appearing shoulder ) as first support. 1940 -1942 as a resistance. But I am long from 1920.
What do u think what going to happen? Do comment
What this means... Gold is bullish? But Gold bulls has to surpass the 200 SMA on 4 H chart positioned at 1940 and and 100 DMA at 1949 as bears defense. If bulls breaks 1940-1942 Level i will see this Price shifting to a new range where 1940 is Floor and 1980 is the top. I aim 1970 as my first target in that case.
Lets see what fundamentals says. The potential pause / Slow Down of interest rate by FED after July FOMC has already been factored in by JPY and DXY. Gold has still to absorb that effect. Lets see how big boys interpret the tomorrow CPI for us.
Lets talk about support and resistance 1920 is the support (an appearing shoulder ) as first support. 1940 -1942 as a resistance. But I am long from 1920.
What do u think what going to happen? Do comment