Gold Trend 05/05
Gold fell from the 2-month high again yesterday. The price was trading between 1780-1790 during the Asian and European session. Buying began at the US session, the price has touched 1798 but fell quickly all the way to day-low 1770. The market ended at 1778.
The trading was in line with the expectation yesterday, range-bound in 1766-1798. Resistance near 1800 remains strong. While the release of US employment figures is approaching, the price should stay within the 1766-1798 range in the next few days.
Gold was rejected by 1800 once again on the daily chart, the 1800 resistance & 100 days MA(1) resistance remain strong. After the selling from 1798 to 1770 at the US session yesterday. Most likely for now the price will be stable in a range before the US employment figures on Friday
S-T Resistances:
1793-97
1790
1783
Market Price: 1782
S-T Supports:
1780-78
1775
1770
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
The trading was in line with the expectation yesterday, range-bound in 1766-1798. Resistance near 1800 remains strong. While the release of US employment figures is approaching, the price should stay within the 1766-1798 range in the next few days.
Gold was rejected by 1800 once again on the daily chart, the 1800 resistance & 100 days MA(1) resistance remain strong. After the selling from 1798 to 1770 at the US session yesterday. Most likely for now the price will be stable in a range before the US employment figures on Friday
S-T Resistances:
1793-97
1790
1783
Market Price: 1782
S-T Supports:
1780-78
1775
1770
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To @ 1uptick Analytics
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