The precious metal is trading lower at today's session with a sell-off by $19. Gold went from $1,147 to $1,128 in just seven hours. Currently, some backing up is giving Bulls some hopes. Although sentiment remains bearish for the long-term, a spike to the upside could be expected as Gold broke the strong resistance on Friday and is currently floating above resistance line on Daily.
First level of support now is $1,122 and first level of resistance is $1,138. After that S2: $1,115, S3: $1,102. R2: $1,149, R3: $1,168.
Thank you for the analysis.
ReplyDeleteVery interesting analysis, thank you.
ReplyDeleteGood analysis.
ReplyDeleteThe drop seems like a retracement to continue going higher.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteGood analysis, thanks for sharing!
ReplyDeleteGreat analysis, thank you.
ReplyDelete