Sunday, June 11, 2023

Gold: Spot Price Outlook

 Gold: Spot Price Outlook

Thus far, gold has been showing a rebound from the horizontal support base formed between $1,932 and $1,942, 

“A rebound towards $1,973 remains within the boundaries of previous week's high of $1,983,” 

Clearing through the $1,975-$1,978 initial resistance zone will set stage for a retest of the swing high of $1,983, and on strong acceptance above this zone, resumption of an uptrend targeting $2,006 can be followed by the next Fibonacci level $2,015.”

On the flip side, a sustained break below 100-Day SMA of $1,937 will eventually extend the drop to $1,913-$1,910, 

“Gold bears may be preparing for repositioning their shorts from the higher zone of $2,006-$2,015 for a better risk-vs-reward ratio eyeing for $1,910.”


Gold low 72234 down fall 516 point down intra days book मेरी हिम्मत को परखने की कोशिश मत करना मैं पहले भी कहीं हवाओं का रुख मोड़ चुका हूं