Gold buys 1962
Vasl Capital
XAUUSD·
Jul 20 2023
Stop Loss -0.58%
Holding time 4d5hr
1963.35
Entry price
1951.94
Stop loss price
Gold has been in a bullish trend, with the formation of higher highs and higher lows. Market is standing at the support level of 1962, from where, we will take the bullish position for another impulse upwards.
The ascending trenldine will be retested at the support level as well. This will form a confluence for the bullish move.
The retracement level is in confluence with the support level of 61.8%.
EMA 50 is bullish and will have a retest at the support level. This retest will fuel the futher escalation of the bullish impulse.
RSI is at 52. Market needs to neutralize at the level of support technically, to align with it.
CONCLUSION: BULLISH