Potential Slide in Gold Prices
Published On: 12 August 2024, 11:10 AM | Tan Peng Chien, Dealer
Key Entry Price Pivot(s):
- 2452.00
- Short at 2424.5
- Stop Loss: 2452
- Take Profit: 2350
- Long at 2452
- Stop Loss: 2413
- Take Profit: 2532
- Gold prices failed to form a higher high last week.
- U.S. Dollar Index has swept bearish liquidity, recovering from the dip.
- Prices are currently in an area of interest.
- Target liquidity resting below around price of 2350 with stop loss above area of interest at 2452.
- Alternative trade would be to long at the pivot point of 2452, targeting new highs around price of 2532.
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