Gold is still bullish. However, some profit taking moved the price lower so at this point we have a range bound market.
Dear Traders,
Gold is still bullish. However, some profit taking moved the price lower so at this point we have a range bound market.
By looking at the chart we can see the zones where the price might eventually reject and bounce from. This is a ranging market now, where the bulls are still having the upper hand. We can see that the zone 1635-40 is the first zone for buyers and if the price drops to 1615-1625 we should see buyers again. Sellers come at 1655 zone and 1675. Until the range is taken out we will see the price between the zones.
