GOLD NEXT MOVE..... 09.05.2024As we witnessed gold price failed to hold ground and got rejected multiple times from the resistance region of 2335.00 to 2342.00 to 2310.00 area. On chart it is clearly visible that price is heading to test the green support zone of 2278.00 to 2288.00 where SMA 200 also provides an additional support.
Bullish trend is valid till the price of Gold is stable above the demand zone/support zone of 2278.00 to 2288.00. Breach of that region and stability below will send the prices to retest 2249.00 to 2259.00 initially.