TODAY GOLD ANALYSIS ON 9 MAY 2022
Hello everyone. We are back again with gold analysis. Today is Monday May, 9 2022. Starting the week like this we need to re-check how the candlesticks in the monthly and weekly timeframes closed. As we can see, the candle closed as a bearish reversal bar on the weekly candle last week and the price closed lower which the market may continue bearish this week.
จากนั้นมาดูที่แท่งเทียนของวันศุกร์ที่ผ่านมา จะเห็นว่าแม้ลักษณะของแท่งจะเป็นแท่งเขียว แต่ยังมีไส้เทียนข้างบนและข้างล่างที่ยาวกว่าเนื้อเทียน แสดงถึงการที่แรงซื้อแรงขายที่ยังไม่ชัดเจนนั่นเองค่ะ
Therefore, Buying trades, we have to be careful as the price has the potential to continue down and the next important support level is approximately around 1850. If the price returns in this area, we can check for a confirmation signal of a reversal.However, we should reduce the risk because the Demand Zone here has been tested many times, making the point that it promotes buying in this area only with a Support line.
If the price can break through this support The next point where you can look at Buy is the next Demand Zone which is around 1830-1820.
In the Sell trade, if the price moves up, you can consider selling at the resistance 1920 and the Supply Zone1960-1950.
From the analysis of gold in the overall picture of the big timeframe, the trend has begun to adjust to a more downtrend, causing the Buy trade to be cautious and choose to trade in the strong zone only.
Please trade at your own risks with a good money management strategy.
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