potential upside move on gold to correct its bearish move which was caused by russia withdrawing its troops from ukrain, this is therefor positive news for investors as there is reduced fear within the markets hence investors pulling money out of gold .
the gold upside bias would be deemed invalid if further more positive news is released reducing war tensions between russia and ukrain therefor which could cause gold to drop further down.
but as it stands currently, we are seeing that gold has broken past a major resistance and has created a new support area for buys.
for buys , we require price to break above 1856 level as confirmations , and fundamentally a fear catalyst would further help to push price up to its previous highs created.
i would look for sells if price breaks below 1845 area
the gold upside bias would be deemed invalid if further more positive news is released reducing war tensions between russia and ukrain therefor which could cause gold to drop further down.
but as it stands currently, we are seeing that gold has broken past a major resistance and has created a new support area for buys.
for buys , we require price to break above 1856 level as confirmations , and fundamentally a fear catalyst would further help to push price up to its previous highs created.
i would look for sells if price breaks below 1845 area
Comment:
target area reached