GOLD BULLISH MOMENTUM BEGINS TILL 26/7

As we saw from my last analysis the GOLD has broken the neckline of inverted head and shoulder and started a bullish movement. A poor CPI let this happens.

So where will be this precious metal next destination?

In 15 minutes chart, GOLD has completed the wave 12345 and did ABC correction.

C zone (1955.335-1957.310) looks like a buyers interest zone.

Price may move up from here and make a new higher high and reach at least 1970 zone today.

Or the price may drop to the Fair Value Gap Zone (1945-1950) and then move towards 1970.

As we have PPI today with unemployment claim, any red news will move this metal upwards.

Overall the bulls are in control now.

My target for this run will be 2000 zone as I have mentioned in my previous analysis there is an unmitigated order block waiting.

Comment:

After yesterday PPI and Unemployment price tried to break the "C" but failed and even it is getting more buy order at this 1955 zone.

We have news today, so if US news comes positive then the price may break the "C" zone and fall to at least below any boxes. My idea suggests 1940 zone.

If US news comes negative then the price makes a new higher high towards 1965-1970 zone and then face sell pressure again.

Comment:

Price should retest the zone (1960.480-1961.215) then fall to 1952 zone following 1941 zone.

Trade active:

TP 1 Hit
💵💵
😍😍

Comment:

Price may hit 1940 zone after Empire State Manufacturing Index news

Comment:

So price is on its way to our TP2

For more updated GOLD analysis see my recent analysis breakdown of why i think GOLD will be Bullish till 26 July.