GOLD has made a retracement towards 1414 zone. MTF analysis shows a possible rejection towards next red levels.
1422 needs to break in order to provide bulls with intraday momentum. 1414-1418 is the zone where we should see fresh buyers. On a positive momentum 1426 will be the target. However, if the price drops below 1414 we might see a neutral price action again with 1407 as the target and the GOLD will return to its ranging – sideways movement range.
The analysis has been done with the CAMMACD.MTF template.
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The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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