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
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
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