GOLD 4H :downtrend under 1930
GOLD
OUTLOOK
The price perfectly fulfills my last idea.
The price of gold declined strongly yesterday to succeed in reaching our expected target at 1916, and we notice that the price is bouncing upward significantly from there, heading towards building an ascending wave that aims to test the 1930 level initially,
Therefore, a bearish bias will be expected for today, supported by the bearish channel, so as long as price trade under 1930 the price will be under sell pressure and first target will be 1923 and then 1916 again ,taking into account that breaking 1930 will stop the bearish trend and put pressure on the price to earn more gains in the immediate term. noting that breaching this level will push the price to reach 1940 as a main target.
The expect range trading for today it will be between resistance line 1930 and support line 1916 until stabilized .
Additionally ,Today News will affect the market .
support line : 1923 , 1916
resistance line : 1930 , 1940
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
The price perfectly fulfills my last idea.
The price of gold declined strongly yesterday to succeed in reaching our expected target at 1916, and we notice that the price is bouncing upward significantly from there, heading towards building an ascending wave that aims to test the 1930 level initially,
Therefore, a bearish bias will be expected for today, supported by the bearish channel, so as long as price trade under 1930 the price will be under sell pressure and first target will be 1923 and then 1916 again ,taking into account that breaking 1930 will stop the bearish trend and put pressure on the price to earn more gains in the immediate term. noting that breaching this level will push the price to reach 1940 as a main target.
The expect range trading for today it will be between resistance line 1930 and support line 1916 until stabilized .
Additionally ,Today News will affect the market .
support line : 1923 , 1916
resistance line : 1930 , 1940
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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