Gold price showed a reaction after price fall back at support/demand zone around 1688 - 1682 area.
1st week of economic data from US economy showed a temporary contraction in US index. ADP and NFP unable to stimulate continuous bull run.
1742.22 will become the first road block for gold price to continuous climb up and reach 1800 back.
However if the recent demand zone couldn't hold the price back to supply zone it has higher possibility for gold to fall more deeper and forming a strong bearish structure.
With mixed sentiments and global issues happening around the world especially among biggest power anything is possible for gold to drop below demand zone and give worries for gold investor.
For gold trader trade wisely, monitor your zone in multi timeframe.
Regards
Al Yaqen
1st week of economic data from US economy showed a temporary contraction in US index. ADP and NFP unable to stimulate continuous bull run.
1742.22 will become the first road block for gold price to continuous climb up and reach 1800 back.
However if the recent demand zone couldn't hold the price back to supply zone it has higher possibility for gold to fall more deeper and forming a strong bearish structure.
With mixed sentiments and global issues happening around the world especially among biggest power anything is possible for gold to drop below demand zone and give worries for gold investor.
For gold trader trade wisely, monitor your zone in multi timeframe.
Regards
Al Yaqen
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