FX.co ★ Control zones for GOLD on 06/30/20

Continued growth in the price of gold is a priority. The main obstacle to growth was the monthly control zone. This zone will become history tomorrow and will continue to work in an upward direction. Any price fall should be considered as an opportunity to buy the instrument, and WCZ 1/2 1737.35-1733.25 is the decisive support.

The lower the price approaches the WCZ 1/2, more favorable prices will be obtained for purchasing the instrument. Options for a reversal of the medium-term bullish momentum are considered only as secondary ones.

To continue forming the accumulation zone, you will need to form a false breakout pattern of the monthly high. If this happens, then it will be possible to consider the option of a corrective sale of the instrument by tomorrow while expecting the price to fall to WCZ 1/2.

Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.