The Gold tested the support of 1700 multiple times in past two week. The next hurdle which is stopping the gold from making a proper upside move is the FED interest rate announcement at the end of this month. If the interest rate is as per the market expectations then we can see an upside rally towards 1800. Currently gold is in a rangebound zone of 1700 to 1730. My idea for next week is to take long positions around 1700 with target of 1720 and 1725. Aggressive traders can take both long and short positions at 1700 and 1725 after confirmation of rejection of support and resistance levels.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics