Potential Slide in Gold Prices


Published On: 12 August 2024, 11:10 AM | Tan Peng Chien, Dealer

Key Entry Price Pivot(s):
  • 2452.00
Recommended Trade:
  • Short at 2424.5
  • Stop Loss: 2452
  • Take Profit: 2350
Alternative Case
  • Long at 2452
  • Stop Loss: 2413
  • Take Profit: 2532
Remarks:
  • 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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