Correction Required Towards Support level 1825$ For long 2200$
Gold has increased as much as $1,983.10 today registering a new historical high. The price has validated a further growth in the short term, so the $2,000 psychological level is seen as the next upside target. The USD's continuous drop versus the other major currencies helps the yellow metal to jump higher and to reach new highs. The price is facing tough dynamic resistance, a valid breakout above this level will activate further upside movement.
Gold is traded above the R2 ($1,972) level and it could accelerate its rally if closes above this static resistance. The next upside targets are represented by the $2,000 level and 2100$ but before next all-time high price looking strong correction downside coming weeks towards support levels 1910$ 1860$ and 1825$
First support level 2011 Year ( 1920$) if break then more downside correction 1860$ and if $ get strong near term the Gold expecting to hit 2013 year Resistance 1760$
🛑SUPPORT/RESISTANCE
✅S1= 1910$
✅S2=1825$
✴️R1=1980$
✴️R2=2140$
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.
Gold is traded above the R2 ($1,972) level and it could accelerate its rally if closes above this static resistance. The next upside targets are represented by the $2,000 level and 2100$ but before next all-time high price looking strong correction downside coming weeks towards support levels 1910$ 1860$ and 1825$
First support level 2011 Year ( 1920$) if break then more downside correction 1860$ and if $ get strong near term the Gold expecting to hit 2013 year Resistance 1760$
🛑SUPPORT/RESISTANCE
✅S1= 1910$
✅S2=1825$
✴️R1=1980$
✴️R2=2140$
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.