Gold consolidating gains. Likely to retest support and rise.
Gold is likely to revisit 2806-2812 and return to 2790 support.
There's a growing possibility of drop lower towards 2785-2775 followed by 2765 major support.
Since immediate trend has turned bullish with new All Time High set at 2817, new batch of buying is likely to resurface on the test of support base and resumption of uptrend may be witnessed targeting 2828 followed by 2863 in near term.
It is important to note 📝 that a decisive break below 2765 will indicate seller's intervention which may flip short term trend to bearish.
There's a growing possibility of drop lower towards 2785-2775 followed by 2765 major support.
Since immediate trend has turned bullish with new All Time High set at 2817, new batch of buying is likely to resurface on the test of support base and resumption of uptrend may be witnessed targeting 2828 followed by 2863 in near term.
It is important to note 📝 that a decisive break below 2765 will indicate seller's intervention which may flip short term trend to bearish.
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