Gold managed to hold advance toward 1249.60, 38.2% level from November 2015 lows, to highs in March 2016.
Market now faces resistance at 1197 and 1206, as long as we hold below this zone another drop wave will be expected toward 1172.06.
Above 1206 more advance may hit market toward 1249-1250 zone. 1249.60-1250 will be treated as resistance for the coming Short-Run which may add fuel to another drop toward 1172.06-1165 zone.
Not a buyer above 1249.60-1250, instead expect to see some hard selling there and I seem to be the one spreading the bad news for any bulls expecting gold to get 20k, best of luck trading this I will be uploading a daily chart to go with this as have had many requests.
Please remember to thumbs up and comment, thanks!
Market now faces resistance at 1197 and 1206, as long as we hold below this zone another drop wave will be expected toward 1172.06.
Above 1206 more advance may hit market toward 1249-1250 zone. 1249.60-1250 will be treated as resistance for the coming Short-Run which may add fuel to another drop toward 1172.06-1165 zone.
Not a buyer above 1249.60-1250, instead expect to see some hard selling there and I seem to be the one spreading the bad news for any bulls expecting gold to get 20k, best of luck trading this I will be uploading a daily chart to go with this as have had many requests.
Please remember to thumbs up and comment, thanks!
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