Gold: The price has reached an important level and encountering 1950.50-1952.5 Key Resistance. Negative US results has fueled the Gold bullish momentum. Market is taking these negative results as a tough decision for FED to increase interest rates in tiring but resilient economy.
Any interest rates increase can put US economy in jeopardy and recession. Any ways. I am expecting a pull back to 1927-1930 level and this is after testing of 1950-1952 Level.
In a sense 1950 level has been tested as 1948-1949 level has rejected the Price. But still i think 1950-52 level is due for testing today. If price crosses it 1960 level will likely to make a pull pack to 1945-52 where Gold will continue its journey of 1980-85 and 2000. My Target for upcoming days is 1970 and 1982-85 in extension.
Any interest rates increase can put US economy in jeopardy and recession. Any ways. I am expecting a pull back to 1927-1930 level and this is after testing of 1950-1952 Level.
In a sense 1950 level has been tested as 1948-1949 level has rejected the Price. But still i think 1950-52 level is due for testing today. If price crosses it 1960 level will likely to make a pull pack to 1945-52 where Gold will continue its journey of 1980-85 and 2000. My Target for upcoming days is 1970 and 1982-85 in extension.