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Gold : Market commentry

Yesterday session bulls dominant full day above 1855 level,bears wants to protect 1865.87 level,but unable to do that and market closed at 1867.44.

In todays session bulls will loose control below 1863.99/1862.49,bear will take full control for 1856.51 minimum.Below 1856.51,bears will drag price towards 1853.59/1846.2 even 1838.82.

Above 1868.47,bulls will upper hand,they can do 1871.38 and 1778.78,in between these two resistance,1874.88(-23.6%retracement) level would be reversal point.

So,we have intraday range,upside 1778.78 and on downside 1838.82 and bull/bear power dictator point at 1862.49 or simply say today’s pivot.

Tradable range could be 1874.88-1856.51,for low risk and maximum, wait for either level meet first.

Plan your trade.


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