GOLD: Strong Bounce from Line of Support

GOLD: had a perfect rebound from the yearly support back in November. This rebound was expected as this support is has been tested four times indicating a very strong line of support for GOLD. In addition, this rebound comes after 4 weeks of bearish sentiment for GOLD.

Plan & Profits: Another test of the line of support is very possible in which will be a very good opportunity to BUY. I would recommend buying GOLD now at the price between 1245-1255.

Target Price: 1284, 1294, Ultimate TP at 1304

Stop Loss: 1232

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Risk Disclaimer: Trading forex carries risk and is not suitable for everyone. Due to the naturally leveraged natural of trading, leverage can work can significantly increase your profits and your losses.

 

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