As we witnessed gold price failed to hold ground and got rejected multiple times from the resistance region of 2335.00 to 2342.00 to 2310.00 area. On chart it is clearly visible that price is heading to test the green support zone of 2278.00 to 2288.00 where SMA 200 also provides an additional support.
Bullish trend is valid till the price of Gold is stable above...
CURRENT PRICE: 2296.5
2278 to 2288 is the bullish zone for gold as mentioned in the chart, plus 200 SMA is also providing support at 2293. Price is bouncing from this level and is currently trading at 2296.
Till the price is above this support zone BUY is recommended to target 2304.5 and 2323.6.
Whereas breach and stability below this support zone will result...