empty
 
 
29.06.2022 06:13 AM
Trading plan for Gold on June 29, 2022

This image is no longer relevant

Technical outlook:

Gold prices dropped to $1,818 during the New York session on Tuesday as most risky assets collapsed against the US dollar. Importantly, the yellow metal has settled above the $1,816 interim lows, keeping the bullish structure intact. It is seen to be trading at around $1,821 at this point in writing and is expected to resume higher towards $1,886 at least in the near term.

Gold has dropped between $1,998 and $1,786 in the past several weeks, carving a meaningful downswing as seen on the 4H chart here. The metal has been producing a counter-trend rally since May 16, 2022, after dropping through the $1,786 lows. The corrective wave seems to be into its last leg higher towards $1,920 before bears are back in control.

Gold prices are currently working upon a lower degree upswing between $1,805 and $1,860. Prices have retraced the above upswing through the Fibonacci 0.786 level close to $1,816. The high probability remains for the rally to resume from here and push towards the $1,920 zone, which is also the Fibonacci 0.618 retracement of the above downswing. Looking higher from here.

Trading plan:

Potential rally towards $1,920 against $1,781

Good luck!

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback