Wednesday, February 5, 2020
Gold Price Futures (GC) Technical Analysis – Strengthens Over $1557.80, Weakens Under $1550.30
The most important value zone on the chart is $1539.10 to $1520.00. A break into this zone could bring in the buyers.Daily Technical Analysis
The main trend is down according to the daily swing chart. The trend turned down on Tuesday when sellers took out the $1567.90 main bottom. The next downside target is the $1542.80 main bottom. The trend will change to up on a move through $1598.50.
On the downside, the major support zone is $1539.10 to $1520.00.
The intermediate range is $1619.60 to $1542.80. Its retracement zone at $1581.20 to $1590.30 is resistance.
The short-term range is $1542.80 to $1598.50. Its retracement zone at $1564.10 to $1570.70 is additional resistance.
SELL CRUDE OIL 5160 FIRST TARGET 4980 HIT LOW 4922 PROFIT 180 POINT INTRA DAY SELL COPPER 733 NEW LOW 721.70 PROFIT 11.3 POINT INTRA DAY SEL...