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GOLD - Could we see reversal?
Hello dear traders,
Gold now has a support area that could highly push prices upward into resistance areas. Despite the good news for the US dollar last week, but we can't till this moment see a clear selling momentum (till this moment), So we could see gold prices targeting higher prices, and then we will see if prices would continue or it will be just a correction.
Never forget that the FED announced that the tapering process could start as soon as the next meeting, so BUY with caution here. The failure of this scenario of course is prices to go below the support area.
To be continued...
Gold now has a support area that could highly push prices upward into resistance areas. Despite the good news for the US dollar last week, but we can't till this moment see a clear selling momentum (till this moment), So we could see gold prices targeting higher prices, and then we will see if prices would continue or it will be just a correction.
Never forget that the FED announced that the tapering process could start as soon as the next meeting, so BUY with caution here. The failure of this scenario of course is prices to go below the support area.
To be continued...
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