Yesterday I said that my target for Gold remains 1920, but as always when we trade a correction, we must be very careful and looking at the structure, 1920 support may not be touched and a bottom can already be in place at 1940.
Going further with the cart, a nice up trend line can be drawn from 1780 low, and as long as this trend line is intact, bulls hold the upper hand.
A very important zone at this moment is 1960-1965 and a break to the upside would confirm the 1940 low as an important one.
My approach is to wait and see for now with a bullish bias.
Going further with the cart, a nice up trend line can be drawn from 1780 low, and as long as this trend line is intact, bulls hold the upper hand.
A very important zone at this moment is 1960-1965 and a break to the upside would confirm the 1940 low as an important one.
My approach is to wait and see for now with a bullish bias.