Downswing got bearish close yesterday suggesting bearish potential is still in place. Nevertheless, upward bounce off the support level 1451.01 was impressive, therefore we can’t rule out that we see a start of accumulation of bullish mid-term positions and potentially nascent upswing respectively (black trajectory).
As we see local structure doesn;t have a completed corrective upswing so far. Therefore it’s going to be interesting to today to monitor how gold will behave itself with respect to the range between support 1450.83 and resistance 1519.00-1520.00. Break of any direction most likely will indicate further direction of the market. Though we can’t rule out a flat between these levels that would bring benefits to buyers.
We expect intensive trading in the 1450.83-1520.00 range and then a probable break in any direction.
Seeking local signals to both sides inside the 1450.83-1520.00 range.
Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications