Type: Bearish MomentumKey Levels:Resistance: 1778.2Pivot: 1740.8Support: 1709.5Preferred Case:On the H4, with price moving within a descending channel and below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 1740.8 where the pullback resistance is to 1st support at 1709.5 where the 78.6% fibonacci retracement and 78.6% fibonacci projection are.Alternative Scenario:Alternatively, price could break pivot structure and rise to 1st resistance at 1778.2 where the swing high resistance is.Fundamentals:We have a bearish outlook on gold as a result of Powell's Hawkish Remarks about monetary policy at the yearly Jackson Hole Symposium.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gold-futures-gc1-h4-potential-for-bearish-continuation29"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.