Gold to bounce from strong support - Uptrend in play
The Gold price is currently sitting around the 1215 support level - we are likely to see a a strong trend continuation from this level if we are able to break above 1220. I believe the recent fall in the price has been a simple market correction, so my previous ideas on this commodity are still valid.
However, if the price is to break the 1215 level, we are likely to see it settle at 1210 and 1205 support levels.
Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. Stick to your trading plan, no matter the market conditions.
However, if the price is to break the 1215 level, we are likely to see it settle at 1210 and 1205 support levels.
Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade. Stick to your trading plan, no matter the market conditions.
