#GOLD watch 2717 -2700 -2680
Hello traders
#Gold rose 7% = 189$ from 2602 to 2790 and failed to reach 2800.
We are in profit-taken phase and this could continue.
We are in strong Up-trend for the long-run, however after 7% rise we are watching a correction.
The next levels to watch are 2717 which is the 38.2% fibo level, then 2700 which is 50% fibo.
The upcoming resistance is 2750 then 2780 then 2800 then 2830
Trade set up
Buy @ 2717 with SL at 2710 only if price dipped under 2717 then rose back above it.
if 2717 is breached,
Buy @2705 with SL at 2697 only if price will dip and start to show reversal aound the 2700 area.
Trade careful.
#Gold rose 7% = 189$ from 2602 to 2790 and failed to reach 2800.
We are in profit-taken phase and this could continue.
We are in strong Up-trend for the long-run, however after 7% rise we are watching a correction.
The next levels to watch are 2717 which is the 38.2% fibo level, then 2700 which is 50% fibo.
The upcoming resistance is 2750 then 2780 then 2800 then 2830
Trade set up
Buy @ 2717 with SL at 2710 only if price dipped under 2717 then rose back above it.
if 2717 is breached,
Buy @2705 with SL at 2697 only if price will dip and start to show reversal aound the 2700 area.
Trade careful.
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