Gold seems to be trading with slightly bullish bias following yesterday's rebound from
1969 low and todays trading shows attempt to test
2006 resistance zone.
We take a view that the metal can start decline again from
2006 supply zone and retest
1969 swing low followed by extra weakness leading to
1955 Fibonacci zone.
On the flip side, sustained break above
2006 can prompt a further upmove towards
2015 and
2023 which is acceleration point to further leg higher
2048 swing high.
We take a view that the metal can start decline again from
On the flip side, sustained break above
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