Data packed week following a Rangebound Week
Gold is hovering around upper channel of retracement flag in formation for the Bullish Pole created from 1800 to 2100
Gold has shown decent buying from 1980 zone.
Although more retracement is possible, till 1950 zone, But given the strength of the Demand zone established around 1980, chances of buying from this zone upon retest are very much likely.
Gold may continue to consolidate before respecting or breaking 1980 zone.
Upon respecting, 2080 zone could be tested followed by Higher levels
Upon Breaking, 1930 zone could be tested.
In Summary:
2045 2050 on upside
2015 2020 on downside
Trending move on either side break is possible
2065
2085 on upside
1995
1975 on downside
Are the possible zones which could be tested.
Gold has shown decent buying from 1980 zone.
Although more retracement is possible, till 1950 zone, But given the strength of the Demand zone established around 1980, chances of buying from this zone upon retest are very much likely.
Gold may continue to consolidate before respecting or breaking 1980 zone.
Upon respecting, 2080 zone could be tested followed by Higher levels
Upon Breaking, 1930 zone could be tested.
In Summary:
2045 2050 on upside
2015 2020 on downside
Trending move on either side break is possible
2065
2085 on upside
1995
1975 on downside
Are the possible zones which could be tested.
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