Gold- Latest Technical Forecast: Headed for Target $1972 $1998
As Banks in the US have been sounding alarm bells for liquidity crisis, investors are rushing towards Gold as safe haven.
Also signs of imminent recession raise the concerns. We saw a bullish up move in Gold that began from $1885 and jumped to $1938
Any correction towards support areas of $1900 or a tad lower $1890 will be used by buyers for value shopping.
Uptrend is likely to resume for next leg higher $1958 and extra mile $1972 and 2nd leg for $1998
The current bullish momentum remains valid as long as Gold holds above $1900 with a Daily closing basis.
Momentum gains affirmation for frther advance once Gold successfully gains acceptance above $1928 and $1932 followed by recapturing $1938 resistance.
Note: This is a projection based on pure price action and does not claim to be a Trading Advice.
Also signs of imminent recession raise the concerns. We saw a bullish up move in Gold that began from $1885 and jumped to $1938
Any correction towards support areas of $1900 or a tad lower $1890 will be used by buyers for value shopping.
Uptrend is likely to resume for next leg higher $1958 and extra mile $1972 and 2nd leg for $1998
The current bullish momentum remains valid as long as Gold holds above $1900 with a Daily closing basis.
Momentum gains affirmation for frther advance once Gold successfully gains acceptance above $1928 and $1932 followed by recapturing $1938 resistance.
Note: This is a projection based on pure price action and does not claim to be a Trading Advice.