Holding Crtical Support 1870$ Expecting Pull Back 1950$
Gold price got rejected once again at $1,970 and as we said last week, this was a bearish sign that could push price back towards $1,900 the lower triangle boundary. Price has now reached this critical support area at $1,880-$1,875 and if it is broken we should see price under pressure for a move towards $1,800-$1,7900.
Currently, Daily chart and H4 chart showing oversold and near term expecting some correction upside or pull back towards 1930$ Resistance from support 1865$- 1875$ If this support level holds, then a bounce towards $1,950 could follow. Price is moving sideways for more than a month. Is it time for the price to break out downside or pullback, IF Support level break we could see major support level 1825$ and 1790$, alternative Dollar under correction before Election USA 3rd NOV 2020.
LONG TERM: GOLD looking all-time high 2150$ expecting end of the year,
🛑SUPPORT/RESISTANCE
✅S1= 1865$
✅S2=1830$
✴️R1=1930$
✴️R2=1985$
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Currently, Daily chart and H4 chart showing oversold and near term expecting some correction upside or pull back towards 1930$ Resistance from support 1865$- 1875$ If this support level holds, then a bounce towards $1,950 could follow. Price is moving sideways for more than a month. Is it time for the price to break out downside or pullback, IF Support level break we could see major support level 1825$ and 1790$, alternative Dollar under correction before Election USA 3rd NOV 2020.
LONG TERM: GOLD looking all-time high 2150$ expecting end of the year,
🛑SUPPORT/RESISTANCE
✅S1= 1865$
✅S2=1830$
✴️R1=1930$
✴️R2=1985$
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.
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