Welcome back traders. Share My Analysis If You Agree :)
Despite the big push to hell, Gold has been consolidating all week. Price found a strong level of support near $1875, which just so happens to be a key psychological level. A correction has to be made before another push to the downside. I predict a rally towards $1895 following a breakout of the zone around $1884 and a new high. Bullish momentum could lose steam along the process, so I applied a resistance level that showed dominance on the Daily Time-frame. ($1891)
Comment Your Bullish or Bearish ideas on Gold
Despite the big push to hell, Gold has been consolidating all week. Price found a strong level of support near $1875, which just so happens to be a key psychological level. A correction has to be made before another push to the downside. I predict a rally towards $1895 following a breakout of the zone around $1884 and a new high. Bullish momentum could lose steam along the process, so I applied a resistance level that showed dominance on the Daily Time-frame. ($1891)
Comment Your Bullish or Bearish ideas on Gold