Gold seems to be trading with slightly bullish bias following yesterday's rebound from
1969
low and todays trading shows attempt to test
2006
resistance zone.
We take a view that the metal can start decline again from 2006 supply zone and retest 1969 swing low followed by extra weakness leading to 1955 Fibonacci zone.
On the flip side, sustained break above 2006 can prompt a further upmove towards 2015 and 2023 which is acceleration point to further leg higher 2048 swing high.
We take a view that the metal can start decline again from 2006 supply zone and retest 1969 swing low followed by extra weakness leading to 1955 Fibonacci zone.
On the flip side, sustained break above 2006 can prompt a further upmove towards 2015 and 2023 which is acceleration point to further leg higher 2048 swing high.