Gold price has stabilized after sharp jumps and new highs. The asset is highly susceptible to any reports from official sources about the coronavirus proliferation. Gold will be at its highs until some positive news come up.
Our Analysis:
As long as Gold is traded above 1649.00, please follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1662.70
- Take Profit 1: 1671.00
- Take Profit 2: 1681.00
Alternative scenario:
In case of breakdown of level 1649.00 follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1649.00
- Take Profit 1 - 1642.00
- Take Profit 2 - 1632.00
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