Hey traders. Thank you for the comments and boosts.
Today's chart is Gold. Let's check it quickly.
We can see
1. 1825~1835 resistance zone of the box patter.
2. Bottom support of the box pattern on 1725.
We should check
Wednesday - US CB Consumer Confidence, Existing Home Sales, Crude Oil Inventories
Thursday - UK GDP, US GDP, US Initial Jobless Claims
Friday - US Core Durable Goods Orders, Core PCE Price Index, US Core PCE Price Index, US New Home Sales
We can expect
1. downward movement by 1825~1835 resistance zone.
2. the price going up to 1940 by breaking resistance zone.
BoJ practically showed they are downsizing their monetary policy.
This made dollar weak and gold got bullish yesterday.
But, as we can see, there is a big resistance on 1825~1835 which blocked Gold's upward movement before.
It will be hard to be broken if there is no factors which make upward movenment.
This will be the second chance to have short position and we can expect the price fall to 1725. ( there is support on 1775 too. Keep watching if there is rebounding )
Let's see if we can hold our short position.
Thank you for reading and hope this insight was helpful.
Today's chart is Gold. Let's check it quickly.
We can see
1. 1825~1835 resistance zone of the box patter.
2. Bottom support of the box pattern on 1725.
We should check
Wednesday - US CB Consumer Confidence, Existing Home Sales, Crude Oil Inventories
Thursday - UK GDP, US GDP, US Initial Jobless Claims
Friday - US Core Durable Goods Orders, Core PCE Price Index, US Core PCE Price Index, US New Home Sales
We can expect
1. downward movement by 1825~1835 resistance zone.
2. the price going up to 1940 by breaking resistance zone.
BoJ practically showed they are downsizing their monetary policy.
This made dollar weak and gold got bullish yesterday.
But, as we can see, there is a big resistance on 1825~1835 which blocked Gold's upward movement before.
It will be hard to be broken if there is no factors which make upward movenment.
This will be the second chance to have short position and we can expect the price fall to 1725. ( there is support on 1775 too. Keep watching if there is rebounding )
Let's see if we can hold our short position.
Thank you for reading and hope this insight was helpful.
