Gold scenario for the next week
Gold is bullish but it is actually at its near term high price. so, we will either get a confirmation of Swing sell trade in the upcoming or if we see a rejection and bounce it will be better to grab a short-term, strong buy trade.
We should be getting a confirmation soon on this pair, I do prefer the sell side upon confirmation around the price of 1303-1300 level. This should get more clear by monday or tuesday
There is formation of Cup and handle pattern in a daily time frame. One can place trade with a stop loss of 1298.18 and 1st Take Profit at 1327.77 and 2nd take profit at 1346.57. Investors should be cautious regarding the closing of candle above level of 1310.48
WTI reached a strong resistant level which may probably bounce it back to the last daily bottom providing a nice profitable entry for short traders.
Wishing The Best
Joined Sep 2017
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Status: Still a total mystery
|3,575 Posts
Would short. It just rebounded, possibly because of the EURUSD rebound, but I believe it will decline now (I already stated the reasons in my previous posts in other threads), thanks.
