FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Okay, so, last week we have seen a beautiful rebound from 1671 levels which will be acting as strong support. On the other hand, gains are still capped till 1740 as this level is tested approximately 4 times in the daily chart . So, it is clearly showing strong resistance at 1740. If this level breaks, bulls will face immediate resistance at 1667, but it may get cleared easily if 1740 is broken and 1800 levels may be seen soon.

Still, there is a strong confluence of indicators at 1707. So, if 1707 breaks easily, then it will be a great long opportunity as then 1740 level may test once again. WHICH WILL BE A GREAT OPPORTUNITY FOR US.

WE ARE STILL BULLISH ON GOLD . SO, IF YOU DON'T WANT TO TAKE LONG POSITION THEN MUST NOT TAKE SHORT ALSO, BECAUSE IT'S STILL HIGHLY HIGHLY BULLISH!!!!

EITHER GO LONG OR BE NEUTRAL TILL 1740 BREAKS.

FOR LONGTERM TRADERS, JUST BUY AND TAKE PROFIT AT 1800. THIS MONTH, GOLD MAY REACH THIS TARGET.

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