Upswing reached resistance zone 1894.47-1898.73, where there will be risks of getting daily bearish pinbar (in case the bulls fail to overcome this roadblock). In this case we would consider upward correction of gold concluded.
However such an assumption can be confirmed only after the daily bar close, therefore it’s better to stick to the scenario of growth extension in direction of the next resistance 1918.58-1921.00 (black arrow).
Local structure keeps upward tone and forms corrective downward movement. Optimal depth of pullback is the closest structure’s low (1884.23), where buyers might regain control again (black trajectory).
In case this zone gets broken, the market can slip lower to 1872.24 (red arrow).
Main scenario: Decline to 1884.23, then growth to 1900.00.
Alternative scenario: Pullback of the quotes to 1872.24 and forming of downward reversal by the end of the day.
Seeking probable buy signals at 1884.23.
Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! 🏆 Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts 📍 How to get the bonus: 1) Register an […]
Only from November 02nd to December 04th, 2020, 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 200%? […]