Importance of 200 Day Exponential Moving Average on Gold price
Hello everyone, finally Gold price is hovering around a long awaited support line, 200 day exponential moving average . The historical data suggests a strong upward movement every time price reaches 200 day ema . Yes i know there is lot of fear in market after recent blood bath but i think we are gonna see continuation of long term bullish rally. For me buying the dips strategy should apply here for long term targets 2100 and 2300 dollars for an ounce. However, as an alternate scenerio need to be very careful if prices fail to sustain and 200 day ema defense line we will be going in downtrend
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