Gold managed to drop toward 5145 but held above the uptrend line.
Gold managed to drop toward 5145 but held above the uptrend line.
We still see the advance wave ongoing as long as the market holds above 5094-5122 where the target is toward 5400-50.
First Intraday support is at 5145.
Below 5094 more of a drop will be expected towards the 4975-5000 zone.
SUPPORT | RESISTANCE | |
LEVEL1 | 5145 | 5215 |
LEVEL2 | 5094 | 5250 |
LEVEL3 | 5000 | 5320 |
Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). Orbex LIMITED is licensed to provide Investment Services (Reception & Transmission, Execution and Dealing on own account) and Ancillary Services.
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, the level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Comments
Log in or sign up to join the conversation.