GOLD: Bullish Rally Here!
Hello everyone! Today i want to share some macro analysis with you!
1.
TECHNICAL: Gold's decline stopped at $2656.7 as it reached the 38.2% Fibonacci correction level of the rise from $2596.10 to $2697.7, starting a bullish rally and resuming its bullish trajectory on an intraday basis on the way to test $2700 as the first positive target.
Supported by positive technical indicators, more expected gains are awaited in the coming sessions, noting that a break below $2,659 will stop the bullish wave and push the price to achieve more bearish corrections, with its next targets reaching $2,647 and then the $2,635 level.
Today's trading range is expected to be between the $2,655 support level and the $2,695 resistance level.
Trend Forecast: Bullish (Hold Buy trade on trade)
Strategy: BUY:2663-2665 TP:2678-82-85 SL:2655 $Gold - main 2502(GCmain)$ $XAU/USD(XAUUSD.FOREX)$
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