Will gold offer long entry in the near term?
Looking at the 1 hour chart, 
GOLD is trying a break out of the descending channel in which it has been trading since early March.
I'll watch closely to see if it makes it through the monthly Fibonacci S1 level (SM2), which recently served as resistance (March 8). If this happens, one might consider entering a long position with a short-term target of $1773 (monthly pivot point, PM).
If the move is rejected and the price falls back into the channel (below $1700), the monthly Fibonacci S2 level (SM2) comes into play as a potential support.
GOLD is trying a break out of the descending channel in which it has been trading since early March. I'll watch closely to see if it makes it through the monthly Fibonacci S1 level (SM2), which recently served as resistance (March 8). If this happens, one might consider entering a long position with a short-term target of $1773 (monthly pivot point, PM).
If the move is rejected and the price falls back into the channel (below $1700), the monthly Fibonacci S2 level (SM2) comes into play as a potential support.
DISCLAIMER: I am not a financial advisor, and my scripts are for educational purposes only. Any trades you make are at your own risk.
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DISCLAIMER: I am not a financial advisor, and my scripts are for educational purposes only. Any trades you make are at your own risk.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。