Gold could accelerate to the upside
Updated
After a false break of support and reaching the year's low just above $2,000, Gold has returned to its familiar range and has remained there for the past 10 days. However, at this juncture, the 2015 zone is providing a robust support base, prompting bullish investors to buy into dips.
I anticipate a forthcoming breach of the 2040 resistance zone, with my target set at the beginning of the year's price, which stood above 2080. In the interim, resistance is noted at 2060, which could also serve as a target for shorter-term traders.
I anticipate a forthcoming breach of the 2040 resistance zone, with my target set at the beginning of the year's price, which stood above 2080. In the interim, resistance is noted at 2060, which could also serve as a target for shorter-term traders.
Note
XauUsd is near yesterday's high and close to a break up
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