GOLD recently hit out the strong horizontal support zone . It formed a double bottom and bulls took control from there and broke above the falling resistance. The price approach to the 0.50 fib level of recent bearish fall from 1725-1620. The bears took control there and price fall back to horizontal support.
Now if bulls surpass the $1,670 hurdle, the mid-month high around $1,684 can be targeted by bulls before moving high side towards the monthly high at $1,730. Meanwhile, a month-old horizontal support area around $1,620 is acting as a strong support zone .
Manage your trades accordingly
Now if bulls surpass the $1,670 hurdle, the mid-month high around $1,684 can be targeted by bulls before moving high side towards the monthly high at $1,730. Meanwhile, a month-old horizontal support area around $1,620 is acting as a strong support zone .
Manage your trades accordingly
