Although the downtrend in gold prices has slowed, the daily chart still shows lower lows (1), indicating no formal reversal yet. Recent price action has been relatively calm, moving within a descending channel (2). On Monday, gold broke below the ascending support line (3), showing short-term weakness. The target for the coming week is set at 4380 (4).
Short-term focus:
> US/Iran conflict updates
> Risk premium before the weekend
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*Investment involves risk. You may use the information, strategies and trading signals on this website for academic and reference purposes at your own discretion. 1uptick cannot and does not guarantee that any current or future buy or sell comments and messages posted on this website/app will be profitable. Past performance is not necessarily indicative of future performance. It is impossible for 1uptick to make such guarantees and users should not make such assumptions. Readers should seek independent professional advice before executing a transaction. 1uptick will not solicit any subscribers or visitors to execute any transactions, and you are responsible for all executed transactions.
