Gold prices have surged to post-1988 record highs due to recent market panic and investors seeking a safe haven. As long as this panic persists, gold is likely to continue its upward trend. However, if it reaches the $2000 level, there may be a correction down to the previous resistance-turned-support level of $1951, before it resumes its upward trend towards $2000 and potentially $2050.
If it fails to rebound and breaks below $1911, there may be a bearish opportunity with a target of $1860.
But, if gold breaks and stays above the $2000 level, it could be a buying opportunity with a potential target of $2050.
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If it fails to rebound and breaks below $1911, there may be a bearish opportunity with a target of $1860.
But, if gold breaks and stays above the $2000 level, it could be a buying opportunity with a potential target of $2050.
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Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
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