18-04-2022, 11:53 PM
gold market technical analysis
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Gold markets were relatively better early in Monday's trading, but the $2,000 level has offered significant resistance. It's certainly a large, round, and mentally significant number. And the reaction wasn't very surprising. As mentioned before, the market used to go through it quite easily. So I think it might just be a matter of time before we do the same.
The $1920 level is a very supportive area as the 50-day EMA passed through it. In the end, I will consider the $1970 level as a possible support, so the entire area between the two levels is very interesting. We are in an uptrend. So I still believe it's easier to buy these reductions. This is because there should be a large number of traders willing to enter and take advantage of the overall attitude of the market.
Another thing to pay attention to is that the Tuesday session will feature many Asian and European trades that are not part of the Monday market. from the foregoing More liquidity can attract more buyers. and we look at the chart It is easy to see that we have just broken through the “W-pattern”, so the “measurable move” is what we should pay. Pay attention to.