Gold rose in price for the fourth consecutive session and updated to a maximum in more than three weeks amid worsening trade friction between the U.S. and China, adding to fears that the global economic recovery will be longer than previously expected.
GOLD/USD, 30 min
Pivot: 1763.29
Provided that the price is above 1749.00, please follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1763.29
- Take Profit 1: 1768.00
- Take Profit 2: 1780.00
Alternative scenario:
In case of breakdown of the level 1749.00 and the consolidation of the price above this level, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1749.00
- Take Profit 1: 1738.00
- Take Profit 2: 1726.00
Comment:
RSI shows the possibility of an uptrend.
Key levels:
Resistance | Support |
1790.00 | 1749.00 |
1780.00 | 1738.00 |
1768.00 | 1726.00 |
GOLD/USD, D1
Pivot: 1749.00
As long as the price is above 1680.00, please follow these recommendations:
- Time frame: D1
- Recommendation: long position
- Entry point: 1749.00
- Take Profit 1: 1790.00
- Take Profit 2: 1835.00
Alternative scenario:
In case of breakdown of the level 1680.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1680.00
- Take Profit 1: 1645.00
- Take Profit 2: 1610.00
Comment:
RSI shows an upward trend in the medium term.
Key levels:
Resistance | Support |
1885.00 | 1680.00 |
1835.00 | 1645.00 |
1790.00 | 1610.00 |
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