Is Gold Looking For Another Bullish Rally?

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  • Trading Instrument : Gold
  • Analysis : Gold yesterday closing was1225.75, it is looking gold is struggling hard for further bullish trend. Currently, gold is moving near the bearish support level. Today's gold movement and closing could be the trend deciding movement. If the price breaks it; the gold may test the 1240 level in coming days. As you can see on the 1d chart, gold is trying hard to break the trend line that gold is holding from April 2018. For short term it is looking gold will continue the bullish trend but still, the major trend of gold is bearish. The recommendations for trading is to wait for the breakout. In case of a bullish breakout, we can take Buy entry near 1231 with Take Profit 1239 and Stop Loss 1228. Also, we can set a Pending Sell Order at 1239 with Take Profit 1229 and Stop loss 1243.
  • Is Gold Looking For Another Bullish Rally?
  • Recommendations : The Suggested Trading Entries Are Buying Near 1231 And Selling Near 1239.
  • Tags : Forex Analysis,technical Analysis,forex Trading,forex Bonus

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