Trading Focus Today (24th December 2019)

•Gold has completed over 3 months of consolidation and may enter into a (most likely) bullish trend.

•There are multiple signs of reversal:

  1. Price supported twice at a 4-month demand zone (forming a double bottom) around 1450.
  2. Price broke above a 3-month falling trendline.
  3. Price broke above a recent range high at 1484.

•As of current, the price is rising and supported by a rising trendline which gives us a way to identify the next entry level to buy gold.

•First entry range: 1483 – 1480, SL : Below 1476•Second entry range: 1475 – 1470, SL: Below 1465

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