Even though DXY dropped 0.4% Gold raised only 0.2%
This shows the dominance of bearish momentum in gold. However the negative news on USD helped gold to see new high at 1811. However gold was not able to break this reistance yesterday also. But as the bearish momentum dominates it tested the 1798 level and tried to test 1792 yesterday. But due to order block it is able to rise back to levels above 1800.
Today we can expect gold to test its support near 1802 and the next strong resistance near 1815.
I suggest to go long near 1804 with SL at 1796.
Please share your thoughts
This shows the dominance of bearish momentum in gold. However the negative news on USD helped gold to see new high at 1811. However gold was not able to break this reistance yesterday also. But as the bearish momentum dominates it tested the 1798 level and tried to test 1792 yesterday. But due to order block it is able to rise back to levels above 1800.
Today we can expect gold to test its support near 1802 and the next strong resistance near 1815.
I suggest to go long near 1804 with SL at 1796.
Please share your thoughts