If gold prices continue to struggle below $3,345, we should be wary of a retest of the $3,300 support level. A break below this level could lead to a further decline to the $3,260-3,255 range (corresponding to the 100-day moving average).
A break above $3,345 and a sustained position could trigger short-covering, pushing gold prices back toward the $3,367-3,368 range. Further gains could test the $3,400 level and even challenge the strong resistance at $3,434-3,435.#SharingTradingMistakesAndGrowth#BrokerEvaluation
If gold prices continue to struggle below $3,345, we should be wary of a retest of the $3,300 support level. A break below this level could lead to a further decline to the $3,260-3,255 range (corresponding to the 100-day moving average).
A break above $3,345 and a sustained position could trigger short-covering, pushing gold prices back toward the $3,367-3,368 range. Further gains could test the $3,400 level and even challenge the strong resistance at $3,434-3,435.#SharingTradingMistakesAndGrowth#BrokerEvaluation