Gold Price Analysis: Volume profile POC targets $1,720 / $1,840

Gold Price Analysis: Volume profile POC targets $1,720 / $1,840

Gold is continuing to run to the downside, but there could be strong demand in $1,850’s.

Volume profile analysis puts the key POCs at $1,720 and $1,840 as targets.

Following the recent analysis , Gold Price Analysis: Bears finally catch a break , where the price melted, as expected, below the trend line resistance, bears remain on track for a run towards $1,840.

A fresh low of $1,860.08 was made in the London afternoon session following a break of $1,875 in late Asia.From a volume profile perspective, a break of $1,857 could be significant and lead to a run through a low volume area between there and $1,820.In doing so, it then stretches the imagination of a retracement all the way to the 2019-YTD point of control (POC) down at $1,720.This likely means that $1,850 is going to be a strong area of demand and troublesome for the […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet