Gold- Bulls should be careful at 1880 zone
Is not even Friday and Gold already had a very interesting week...
On Monday we have a false break of 1820 support that was quickly reversed leaving us wondering what is the most probable direction for the future.
Yesterday my sentiment has become bullish with the price consolidating above 1830-1835 buy zone. After a short spike down to this buy zone, Gold not only that reversed but managed to break above important 1860 resistance.
At the time of writing Gold is trading at 1871 and my outlook is bullish for the remainder of the week.
Bulls should be careful though at 1880 zone where Gold can (and most probable will) encounter strong sells
On Monday we have a false break of 1820 support that was quickly reversed leaving us wondering what is the most probable direction for the future.
Yesterday my sentiment has become bullish with the price consolidating above 1830-1835 buy zone. After a short spike down to this buy zone, Gold not only that reversed but managed to break above important 1860 resistance.
At the time of writing Gold is trading at 1871 and my outlook is bullish for the remainder of the week.
Bulls should be careful though at 1880 zone where Gold can (and most probable will) encounter strong sells
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