HomeBusinessGold: Heading Towards 1858.16

Gold: Heading Towards 1858.16

As mentioned yesterday, we enter into accumulation phase. Although it violated support zone of 1792-89 and made low at 1781.02, it didn’t harm upside perception at these level.

Presently doing its business at 1794, it will face first barrier at 1803.47 before significant level of 1815.11 and 1820.44.

Any Day close above 1820.44 then 161.8 % retracement 1831.54 would be seen, and act as Resistance before weekly Target 1858.16.

Remember all levels are valid for this week, take protective stop just below 1770.

Strategy:  Go long

Most Popular


What in a store for Gold: December’21

After analyze Daily chart for month of Dec’21 through our proprietary calculation method, determine that it will trade with 141 points move, between the...

Risk Management: Important Ingredients When Trading

If you fail to respect risk, you will have a very short trading career. “Don’t focus on making money; focus on protecting what you have.”...

Gold Update: Short Term

As Friday quick downward reaction from our first resistance 1815,is not a bullish price action behavior, so one can exited  long at cost for...