In my recent past analyzes on Gold I said that I'm bullish and I was wondering where would be a good place to buy.
My opinion remains the same for now but as we all know in trading nothing is carved in stone.
When it comes to Gold there are 2 main reasons for concern:
1. The rise from 1850 is not impulsive and more of a corrective pattern
2. The new high at 1933 is in fact a lower high in the bigger picture.
That being said I will still look for opportunities to buy above 1900 zone with a target around 1940. Incapacity of staying above 1900 zone though would put Gold in a bad situation and we can see it drop to 1800 in the medium term
My opinion remains the same for now but as we all know in trading nothing is carved in stone.
When it comes to Gold there are 2 main reasons for concern:
1. The rise from 1850 is not impulsive and more of a corrective pattern
2. The new high at 1933 is in fact a lower high in the bigger picture.
That being said I will still look for opportunities to buy above 1900 zone with a target around 1940. Incapacity of staying above 1900 zone though would put Gold in a bad situation and we can see it drop to 1800 in the medium term
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