Rimani 
Condizioni di trading
Strumenti
Gold prices dropped through $1,722 after drifting in a tight range on Tuesday, before finding some bids coming. The yellow metal has crawled back above $1,730 at this point in writing and could be targeting $1,850 in the near term. Please note that the potential remains for yet another drop towards the $1,705-10 area before resuming its suggested counter-trend rally.
Gold has remained in control of bears since March 08, 2022, after printing the $2,070 highs (not seen on the 4H chart here). The price has been carving a series of lower lows and lower highs following a downtrend resistance trendline projected. Bears seem to have carved a meaningful bottom at around $1,722 or are eyeing one more at around the $1,705-10 zone soon.
Either way, a high probability remains for a turn higher towards $1,750, followed by the $1,813-15 resistance zone as marked on the chart here. After carving a meaningful larger-degree downswing between $2,070 and $1,722, the metal might be now preparing to unfold a similar degree corrective rally back towards $1,900 in the next several weeks.
Gold prices have dropped in the past few days but the recent lows have been accompanied by a strong bullish divergence on the 4H Rsi as shown here. Bulls will remain poised to take immediate resistance out at around $1,750 to register themselves and also confirm that a meaningful low is in place at around $1,722.
Preparing for a potential rally towards $1,750 and $1,813 against $1,700
Good luck!
Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.
