Gold respected the lower boundary of the major bearish channel formed. With the reversal identified, we witnessed a breakout and pullback on the previous support created at the $2310 region. Since the price has respected this area one more time. We expect to see a continuation of the current bullish trend to the upside targeting $2350.
If the price remains bullish biased even after the expected target was met at $2350 then we should confirm a bullish breakout on the resistance created around this $2350 level for another breakout and continuation.
This is where we may witness a complete rally towards the upper boundary of the major bearish channel formed. And this breakout confirmation will be crucial for gold future prices during the year 2024.
If the price remains bullish biased even after the expected target was met at $2350 then we should confirm a bullish breakout on the resistance created around this $2350 level for another breakout and continuation.
This is where we may witness a complete rally towards the upper boundary of the major bearish channel formed. And this breakout confirmation will be crucial for gold future prices during the year 2024.
評論:
Strong Rejection on the Support created at $2280 - $2270 region. Price once again retested the key level it breached with the NFP
