Gold experienced a downward correction yesterday, reaching a support zone between 2151 and 2146. This support zone held firm, indicating a potential buying opportunity following a specific pattern, with a target set at the high of March 8th.
However, if during trading, the support at is breached downwards, it signals a continuation of the correction. In this case, the next target would be the support zone ranging from 2129 to 2122. This zone marks the border of the short-term uptrend. Buying opportunities could arise at this level, presenting a potential profit-making opportunity.
trading ideas for today:
Buy according to the pattern at 2151 - 2146. Take Profit: 2193. Stop Loss: according to the pattern rules.
Buy according to the pattern at 2129 - 2122. Take Profit: 2193. Stop Loss: according to the pattern rules.
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Analysis