Gold at $2380: Next $2370-$2360 and Rebound to $2393..?
After yesterday's uptick to $2386, Gold trades sideways ranging between $2370 support and $2383 resistance as markets await CPI numbers to find direction.
There is a possibility of Gold extending consolidation below $2370 support and find buyers at lower demand areas $2360 and a follow up rebound is likely to be witnessed aiming retesting $2393 swing high above which next bullish leg is positioned at $2415
Outlook: As long as $2393 is resistance, a retracement towards $2370-$2360 will be considered as value bargain by bulls.
There is a possibility of Gold extending consolidation below $2370 support and find buyers at lower demand areas $2360 and a follow up rebound is likely to be witnessed aiming retesting $2393 swing high above which next bullish leg is positioned at $2415
Outlook: As long as $2393 is resistance, a retracement towards $2370-$2360 will be considered as value bargain by bulls.
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