Gold at $2330, Where Next..? $2303 to $2340 and Breakout..!
Gold has been trading in a bullish consolidation.
$2293 low tested on 26th of June was a higher high and indicated a bullish consolidation on a broader time frame.
Retracement to 50% Fibonacci zone $2317, 61.8% Fibonacci zone $2312 and discounted 78.6% Fibonacci zone $2302 are key levels signifying points of interest which may attract buyers at value zone after claiming Fair Value Gap.
This zone is likely to resume upward momentum if $2290 is not breached.
Bullish rebound is very likely to revisit neckline $2340 of inverse Head & Shoulders formation which should target $2388 over an extended period of time.
$2293 low tested on 26th of June was a higher high and indicated a bullish consolidation on a broader time frame.
Retracement to 50% Fibonacci zone $2317, 61.8% Fibonacci zone $2312 and discounted 78.6% Fibonacci zone $2302 are key levels signifying points of interest which may attract buyers at value zone after claiming Fair Value Gap.
This zone is likely to resume upward momentum if $2290 is not breached.
Bullish rebound is very likely to revisit neckline $2340 of inverse Head & Shoulders formation which should target $2388 over an extended period of time.
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