Gold: April 30 review (Intraday and weekly strategy for Gold )
Gold and Siver prices rally today after yesterday’s Fed rate decisions.
The next area for attention is below $1708.20 range (Near S1-yesterday’s low) and keeps down trend till $1699.30(Near S2 – last week low). And if Gold break weekly low, we will expect more down trend till $1666.20 range (major support level).
On the other side, I am looking at $1745.80(Near term R1-Monday’s high), and if break above R1, Gold prices will rose max. $1764.20(near R2 – last Thursday’s high) but major resistance level $1788.80 range(all time high).
For intraday and weekly trading point of view, short Gold and Silver prices at every high level. And in this week, you will see Gold and Silver prices down more than 3-5% in this week.
Intraday and weekly strategy for Gold is given below.
Entry point – $1737.00 – $1740.50 range
And keep R1 $1764.20
And wait S1 $1708.20
And wait S2 $1699.30
And wait S3 $1666.20