Gold Opens Up To New Highs But Resistance Awaits

Gold (GLD) has been one of the best markets to trade in 2021 due to big volatility and price action respecting all techs.

We can spot an ascending trend line which is clearly marking the up trend. If we see a retracement then buyers will possibly show up at the POC zone. 1820-30. 1890 is currently a resistance. If it breaks we should expect a test of 1900. However, as buying the dips is an option watch for a retracement then possibly go long.

The Analysis has been done with the Black Widow system.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

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