GOLD-Latest Technical Forecast: Rebound to $1980 & Drop to $1945
As Gold consolidates above $1950 after yesterday's drop to $1944, sustainability above 23.6% Fibonacci Level $1958 will support further ascent to next Fibonacci Levels 38.2% at $1966.60 followed by 50% at $1973.60 and 61.8% % at 1980.60
1 Hour price action shows crisp momentum with 1st Higher Low on current wave at $1949 which should be followed by a Higher High at $1973 in order to validate the projection.
A high probability of price swing downside triggering a sell off from 61.8% Fibonacci Level taking Gold to $1945 by US session on the back of important data release.
Note: This projection is based purely on price action and does not claim to be a Trading Recommendation.
1 Hour price action shows crisp momentum with 1st Higher Low on current wave at $1949 which should be followed by a Higher High at $1973 in order to validate the projection.
A high probability of price swing downside triggering a sell off from 61.8% Fibonacci Level taking Gold to $1945 by US session on the back of important data release.
Note: This projection is based purely on price action and does not claim to be a Trading Recommendation.