Gold technical analysis 02/11/2022
The market turning point is 1643. The resistance zone 1 is 1663. The resistance zone 2 is 1677. The daily chart can't break the 1643 support zone, the market will have a pullback to the upper resistance zone. If the daily chart closes below 1643, the downtrend will continue towards the 1616 area.
Looking at the H1 and H4 charts, it shows that the market has recovered to the 1663 and 1677 resistance areas before having a decline to the 1643 and 1616 areas.
Conclusion:
Today's Strategy
Buy 1648
SL: 1640
TP1: 1663
TP2: 1677
Looking at the H1 and H4 charts, it shows that the market has recovered to the 1663 and 1677 resistance areas before having a decline to the 1643 and 1616 areas.
Conclusion:
Today's Strategy
Buy 1648
SL: 1640
TP1: 1663
TP2: 1677
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