Will GOLD hit 1600? YES...!
When it comes to candle stick pattern its ending with Bullish Engulfing Pattern which is caused to Bullish movement. It has very strong support at 1483.97 (Horizontal green line). 1533.67 resistance line has been crossed several times and there are more chances to cross it again and hit the resistance 2 (Horizontal maroon colour line). Even though gold is in over bought situation it will bounce back from 70 line towards 80 or more which is bullish.
Take profit areas are mentioned in green box.
Note: Trade at your own risk and this is based on technical analysis only. This is LONG term trade analysis.
Comment and like the analysis.
Open for discussions.
Validation - from 21/09/2019 onward.
Meet us through telegram - t.me/theturningpoint
(@theturningpoint)
When it comes to candle stick pattern its ending with Bullish Engulfing Pattern which is caused to Bullish movement. It has very strong support at 1483.97 (Horizontal green line). 1533.67 resistance line has been crossed several times and there are more chances to cross it again and hit the resistance 2 (Horizontal maroon colour line). Even though gold is in over bought situation it will bounce back from 70 line towards 80 or more which is bullish.
Take profit areas are mentioned in green box.
Note: Trade at your own risk and this is based on technical analysis only. This is LONG term trade analysis.
Comment and like the analysis.
Open for discussions.
Validation - from 21/09/2019 onward.
Meet us through telegram - t.me/theturningpoint
(@theturningpoint)