Hi guys,
Just a quick update on gold. Overall gold is still bearish in the bigger time frame. Gold managed to stay under the descending channel daily resistance wich there is also a strong resistance area located around 1930 levels. During market openening gold managed to reject at this level.
In my opinion gold can fall back to 1915 support level or even as low as 1902 for a retest. Were a bullrun can happen again back to 1930's area
Resistance: 1930, 1942,1953
Support levels: 1915, 1902, 1887
Good breakout above 1933 with confirmation it is posible for gold to push higher toward given reistance levels.
Just a quick update on gold. Overall gold is still bearish in the bigger time frame. Gold managed to stay under the descending channel daily resistance wich there is also a strong resistance area located around 1930 levels. During market openening gold managed to reject at this level.
In my opinion gold can fall back to 1915 support level or even as low as 1902 for a retest. Were a bullrun can happen again back to 1930's area
Resistance: 1930, 1942,1953
Support levels: 1915, 1902, 1887
Good breakout above 1933 with confirmation it is posible for gold to push higher toward given reistance levels.