Gold Trend 12/10
The gold price was relatively stable yesterday, traded within 1750-60 throughout the day. The price has failed to carry the downward momentum from last Friday, and the price is now stable within the 1746-64(1) range. Investors can take advantage of the rangebound pattern before the breakout.
After the rapid pullback(2) last Friday, the market is still waiting for the bottom-out signal on the daily chart. For the moment, trading in the tight range of 1750-60(3), before the downtrend resumes.
S-T Resistances:
1770
1764
1760
Market price: 1757
S-T Supports:
1755
1750
1744-45
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
After the rapid pullback(2) last Friday, the market is still waiting for the bottom-out signal on the daily chart. For the moment, trading in the tight range of 1750-60(3), before the downtrend resumes.
S-T Resistances:
1770
1764
1760
Market price: 1757
S-T Supports:
1755
1750
1744-45
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To @ 1uptick Analytics
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