GOLD New Buyers Should Emerge Within the POC

Dear Traders,

Gold is going up. At this point we can see a retracement which could spike the price up off the lower zones.

1565-1570 is the zone where the price might reject off. Buyers are waiting in the zone and we should see the fresh buyers joining once the price retraces. That would constitute the Inverted Head and Shoulders pattern. If we don’t see a retracement deep down, have in mind that the price might bounce off 1600. Targets for the move are 1625 and 1655.

The Analysis has been done with the CAMMACD.Core and Sit Systems