GOLD: The precious metal moved higher after forming a Bullish Engulfing candlestick. This formed above the trend line support which formed in late June. We see short term resistance now at 1620.45 and above that we have 1635.70. We could say that 1620.45 to 1635.70 is a congestion area as well. Should the market break above that area we could test 1671.49. We see near term support now at 1587.56 and below that is the level at 1571.28.
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DISCLOSURE & DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland
Please feel free to ask any questions or leave comments. As always we will answer as fast as possible. Have a good trading day.
DISCLOSURE & DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland