After Quite a Volatile Week full of Data, Gold has still failed to Find a Direction.
2050 2055
2015 2010
Mark these Zones
Bears and Bulls both would be eyeing 2050 2055 Zone to Make a Comeback.
A. If Gold Respects 2050 zone
2 Possible Scenarios
1. Gold tests 2015 - Possibly Bulls may try to make a comeback after some Consolidation where again 2055 zone will be Crucial.
2. Gold tests 2010 - Bearishness could intensify.
B. If Gold Breaks 2055 zone on the upside
Bullishness could intensify.
Going By the Probabilities and Levels
I'm expecting Either A1 or B to Play Out more than A2.
2050 2055
2015 2010
Mark these Zones
Bears and Bulls both would be eyeing 2050 2055 Zone to Make a Comeback.
A. If Gold Respects 2050 zone
2 Possible Scenarios
1. Gold tests 2015 - Possibly Bulls may try to make a comeback after some Consolidation where again 2055 zone will be Crucial.
2. Gold tests 2010 - Bearishness could intensify.
B. If Gold Breaks 2055 zone on the upside
Bullishness could intensify.
Going By the Probabilities and Levels
I'm expecting Either A1 or B to Play Out more than A2.
