Outlook for Gold: Bullish play seen
Hi everyone,
Gold prices are testing a key weekly support area which lines up with the 61.8% fibonacci retracement. We could see a bounce from here with 1820.20 as our resistance target, in line with the 38.2% fibonacci retracement. Keeping in mind that the views on the weekly time frame echo a more bullish bias as prices hold well above the ascending trend line, a break above our daily resistance zone at 1820.20 could see more upside in gold prices. What is your view on Gold?
Gold prices are testing a key weekly support area which lines up with the 61.8% fibonacci retracement. We could see a bounce from here with 1820.20 as our resistance target, in line with the 38.2% fibonacci retracement. Keeping in mind that the views on the weekly time frame echo a more bullish bias as prices hold well above the ascending trend line, a break above our daily resistance zone at 1820.20 could see more upside in gold prices. What is your view on Gold?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.