Gold may drop more after breaking below $1760

2021年12月3日

Initially, gold has dropped below the long-term trend line starting from August. But we need more confirmation for long-term sell because $1760 identifies strong support.

After breaking below $1760, our first target is $1750, the next target is $1720/1725, and the final target to the downside is $1680/1685. Testing $1720/1725 or below $1680 needs positive US economic reports, especially today's NFP.

On the other hand, if the market breaks above $1800, it may continue its uptrend.

Gold Sell Stop: 1760
SL: 1800
TP1: 1750
TP2: 1725
TP3: 1685
Note: If NFP Positive

Gold Buy Limit: 1685
SL: 1650
TP1: 1720
TP2: 1760
TP3: 1800
TP4: 1830
Note: This signal is valid after the 15th of December