According to technical analysis and my personal understanding, Gold is currently in sideway trend, but in bigger picture, it still in bullish trend. If the price break price in SND Zone (1817.97-1814.32), it will continue to go to next SND Zone which is around (1854.22-1857.70). But as per history of gold, it will take the lowest support as possible before it can bounce to higher price as we seen in last months where it gain strong momentum as it clear its SND Zone.
Anyway, this is my personal opinion. Please share your thought if you have different view regarding this matter.
But be careful as we can see in previous event occur around the world, there are a lot of oil reservoir/tanks been exploded. This will increase the increase the demand of oil, and also, strengthen USD in long run. Thus will affected Gold price to nose dive. Beware of the SND Zone below sideways area (1797.8-1796.8) and the significant support at 1793.00.
In the event of this scenario occur, Gold looking for new support before continue uptrend movement. We are looking price to reach at 1814.32.
-HFX FX-
Anyway, this is my personal opinion. Please share your thought if you have different view regarding this matter.
But be careful as we can see in previous event occur around the world, there are a lot of oil reservoir/tanks been exploded. This will increase the increase the demand of oil, and also, strengthen USD in long run. Thus will affected Gold price to nose dive. Beware of the SND Zone below sideways area (1797.8-1796.8) and the significant support at 1793.00.
In the event of this scenario occur, Gold looking for new support before continue uptrend movement. We are looking price to reach at 1814.32.
-HFX FX-