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HomeBusinessGold may reverse lower from either 1794 or 1804

Gold may reverse lower from either 1794 or 1804

Gold in Asian session currently traded at 1790, it will face Resistance at 1793.84/1794.22 today, if able to clear this, then 1803.91 will provide big hurdle for southward reversal.

In previous article already mentioned that, watch price action at 1771.86, yesterday made a low of 1772.24 and quick upward reaction has been seen towards 1787.  

Today’s support is 1780.68,it’s provide a bounce towards 1794,expects seller comes at 1794 for 1781 again,if clear this hurdle then 1804 may be next reversal point.

For, now 1772 act as good support, as long as this level respect bulls are well capable for 1794 then 1804.Any violation of this would be confirmation of 1742/1736.

One can expect southward reaction from 1804, for exit into trade, either on said Target 1736 or  have an eye on weekly close, if weekly close above1802.62, then I would be a buyer of Gold for monthly upside Target 1847.

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