REDATOR Ben Graham Posted February 17 REDATOR Report Share Posted February 17 Gold is trading around $4,930 below the 21 SMA and rebounding after approaching the 200 EMA zone during Tuesday's European session.Gold could continue its rise in the coming days and even break above the psychological level of $5,000. Finally, the instrument could reach the +1/8 Murray around $5,312.We should wait for confirmation of a breakout from the secondary downtrend channel formed since February 10. If gold consolidates above $5,000, then it will be seen as an opportunity to open long positions.On the contrary, if there is a pullback towards $5,000, we could see it as an opportunity for short trades. So, we could sell with targets at the 200 EMA around $4,835. Finally, we could expect it to reach the 7/8 Murray around $4,687.The Eagle indicator is showing a positive signal, so any pullback in the coming days will be seen as an opportunity to continue buying.The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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