GOLD Hit ALL-TIME-HIGH 2075$ NOW FAST Correction coming Downside
The gold price has developed a minor exhaustion pattern, but the bulls are still in charge and they could push the price higher anytime. Gold was paused by a dynamic resistance, now is pressuring this obstacle again, a valid breakout will validate further growth.
XAU/USD is trading at $2,067 level, lower versus $2,015 after Strong USA data. The outlook is bullish, But strong correction required downside before the yellow metal could approach the $2,200 psychological level if the USD continues dropping and if the COVID-19 crisis gets worse.
GOLD overbought condition and expecting some downside correction towards 2013 and 2011 Year resistance 1825$ and 1920$ ( Old Resistance become support level. Next few months USA Election and uncertainty in market COVID-19 could give re-buying opportunities gold toward going new all-time higher high 2200$ and 2500$
🛑SUPPORT/RESISTANCE
✅S1= 1920$
✅S2=1825$
✴️R1=2075$
✴️R2=2150$
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XAU/USD is trading at $2,067 level, lower versus $2,015 after Strong USA data. The outlook is bullish, But strong correction required downside before the yellow metal could approach the $2,200 psychological level if the USD continues dropping and if the COVID-19 crisis gets worse.
GOLD overbought condition and expecting some downside correction towards 2013 and 2011 Year resistance 1825$ and 1920$ ( Old Resistance become support level. Next few months USA Election and uncertainty in market COVID-19 could give re-buying opportunities gold toward going new all-time higher high 2200$ and 2500$
🛑SUPPORT/RESISTANCE
✅S1= 1920$
✅S2=1825$
✴️R1=2075$
✴️R2=2150$
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.
Trade closed: target reached:
50% of Target Reached