Gold faces potential correction at $2000 level
Gold prices have surged to post-1988 record highs due to recent market panic and investors seeking a safe haven. As long as this panic persists, gold is likely to continue its upward trend. However, if it reaches the $2000 level, there may be a correction down to the previous resistance-turned-support level of $1951, before it resumes its upward trend towards $2000 and potentially $2050.
If it fails to rebound and breaks below $1911, there may be a bearish opportunity with a target of $1860.
But, if gold breaks and stays above the $2000 level, it could be a buying opportunity with a potential target of $2050.
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If it fails to rebound and breaks below $1911, there may be a bearish opportunity with a target of $1860.
But, if gold breaks and stays above the $2000 level, it could be a buying opportunity with a potential target of $2050.
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Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
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