The ultimate bottom is near.
Hello everyone, first of all i would like to congratulate all who shorted this pair and gained some profits.
Coming back to the gold market, as you can see gold failed to hold its multi month strong support 1850 level as per anticipation explained in previous analysis. Now Gold prices are heading towards its final line of defense the 200 day exponential moving average. Which is gonna give some massive support. However, if prices fail to defend this level, Gold will be going bearish for a long term. But i think we are gonna be looking for some buying opportunity at 1800 or below. Personally i will be a buyer at that level. At the moment i will suggest to stay nuetral for a while and lets see closely the price action. If you have missed the short opportunity today dont try to catch the falling knife.
Coming back to the gold market, as you can see gold failed to hold its multi month strong support 1850 level as per anticipation explained in previous analysis. Now Gold prices are heading towards its final line of defense the 200 day exponential moving average. Which is gonna give some massive support. However, if prices fail to defend this level, Gold will be going bearish for a long term. But i think we are gonna be looking for some buying opportunity at 1800 or below. Personally i will be a buyer at that level. At the moment i will suggest to stay nuetral for a while and lets see closely the price action. If you have missed the short opportunity today dont try to catch the falling knife.
Penafian
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