Gold is Picking up Where it Left off.
I expect gold will cross 2135 high resistance zone and rise to 2200-2230 levels. Then continues uptrend after pulling back to 2135 levels which is the new strong support zone. 2019-2041 has been tested several times and there is a good support. Direction upward from here. I expect downtrend on DXY to continue which is good for gold.
- Formed Patterns : Ascending Channel
- Scenario : Gold will continue its uptrend by hitting the 2200-2230 levels and retreating to 2135.
- Price Target in Long Term : $3000
- Support Level : 2019.22-2041.49
- Trend Power : Extremely Bullish
- Macroeconomic Situation :Due to the American debt crisis and interest rates will soon fall; individual investors, companies and central banks continue to buy gold/silver.
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