Gold is in recovery mode by the looks of it. Its trying to regain it previous momentum after correction, according to what i see is gold trying to test a strong resistance at 1868 once broken it will climb all the way upto 1890 in attempt to try another major resistance at 1900.80 (i call it trend changer). however if gold fails to break 1868 then it will be a big...
Gold is in bullish momentum on long term but its going to face some correction before climbing up again. A medium impact immediate support is around the area of 1907 once crossed it will test the major support at 1900.80, I will place my target above this support, If it breaks then I will enter in sell position again with the target above next strong support at...
According to Fibonacci retracement market has turned back from its critical value 61% which is right above a very strong resistance at 1848, there's no technical reasons for gold to not reach the immediate target of retracement extension at 23% which is 1875. next possible move can be upto 1887 and further to 1898 (38% and 50%), right below a strong resistance at...
Technical analysis: According to Fibonacci retracement 1877 is the retracement point and the next immediate target is 1986 which is 23% and next is 1907 which is 38%, while keeping in mind 1900.80 which is a strong resistance. other then that as the Bearish momentum on Daily chart failed after the 1,872 Bottom. Main reasons for current configuration are:
1) Fed...
