Gold at $2385: Will turn Bullish ...?
Gold is seen trading sideways with downside consolidation bias and after dropping to 42385, shows some upward momentum regaining $2396 area which again faces challenge at 4 hourly 50 EMA $2398 above which 4 hourly 100 SMA $2403 is next overhead resistance which capped gains todays opening rally.
$2385-$2380 may be considered as interim support where as strong break above $2403 will open the way to further upside which initially aims $2412 followed by main resistance $2426
Major hurdle is $2433 swing high.
If $2380 support fails, look for 4 hourly 200 SMA $2365
$2385-$2380 may be considered as interim support where as strong break above $2403 will open the way to further upside which initially aims $2412 followed by main resistance $2426
Major hurdle is $2433 swing high.
If $2380 support fails, look for 4 hourly 200 SMA $2365
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