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Outlook for Gold: Bullish play seen
Hi everyone,
Gold prices are testing a key weekly support area which lines up with the 61.8% fibonacci retracement. We could see a bounce from here with 1820.20 as our resistance target, in line with the 38.2% fibonacci retracement. Keeping in mind that the views on the weekly time frame echo a more bullish bias as prices hold well above the ascending trend line, a break above our daily resistance zone at 1820.20 could see more upside in gold prices. What is your view on Gold?
Gold prices are testing a key weekly support area which lines up with the 61.8% fibonacci retracement. We could see a bounce from here with 1820.20 as our resistance target, in line with the 38.2% fibonacci retracement. Keeping in mind that the views on the weekly time frame echo a more bullish bias as prices hold well above the ascending trend line, a break above our daily resistance zone at 1820.20 could see more upside in gold prices. What is your view on Gold?
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