Gold has been in a bullish region and recently surged from the support level of 1948. This level was a support level of daily and h4 and has been a reactive level for the market. The trend on gold is still bullish and the market has the potential to continue moving up towards the resistance area at 1990. 

The ascending trendline has broken out for sells and the market is yet waiting to break the structure to form a bearish structure. Therefore, it cannot be ascertained for the market to fall into the bearish region as of yet.

The retracement level of 61.8% is completely in confluece with the support region where we are looking to go long.

The EMA 50 is still bullish, which has started to range in the region. 

RSI is at 50. This needs to fall in to the over sold region in order for us to to hover into the price action alignment. With the over sold region being tapped, we can have the potential to go upwards with more force.

Gold pounced from support

Apr 03 2023

Stop Loss -0.96%

Holding time 6d23hr

1960.15

Entry price

1941.43

Stop loss price