All eyes on Gold

16 thg 10

As discussed in yesterday's update gold is still looking good to more higher and gold is following that statement perfectly , as you can see on hourly chart after a small pullback in yesterday trading session gold price took support at weekly pivot (2640) and after that price moving in higher side, for today also the CPR relation is positive and gold price is taking support on CPR area and we can expect continuation in higher side , weekly R1 is at 2677 and at that level we can expect another small pullback and then price can continue in higher side towards 2685 or higher level, there is no sign of good reversal so we have to wait for higher levels for any selling opportunities , the only limiting factor that currently stopping the gold bulls is strong dollar Index chart, but I think DXY is also due for correction which can help gold bulls to make a good move in higher side : overall the scenario is still favourable for buying on Intraday .

17 thg 10

Ghi chú

Target done!!!