Gold at $2350: What Next..? $2368 or $2318..?
Gold burst out of long consolidation at $2339 and advanced to $2350
Immediate resistance is at $2353 where some pull back is likely towards breakout zone $2339
If sellers are attracted, expect drag further to recent low $2319
Break below this zone opens the way to extended decline to seek liquidity in Fair Value Gap zone $2303-$2297
There is a growing possibility of value and bargain hunters may resurface at these lows in anticipation of resumption of bullish wave that targets $2368-$2388
On the flip side, strong break above $2353 will set stage for next leg higher $2368 & $2388
Immediate resistance is at $2353 where some pull back is likely towards breakout zone $2339
If sellers are attracted, expect drag further to recent low $2319
Break below this zone opens the way to extended decline to seek liquidity in Fair Value Gap zone $2303-$2297
There is a growing possibility of value and bargain hunters may resurface at these lows in anticipation of resumption of bullish wave that targets $2368-$2388
On the flip side, strong break above $2353 will set stage for next leg higher $2368 & $2388
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