Gold is retesting the 2025 level and breaking through it. Time will tell how successful this boundary breakout will be. A retest of the 2025 level is possible, but the potential is still being realized.
If you look at the weekly chart on the left, the price is in the upper range and it is moving towards the resistance at 2070, which the gold might break-through soon. With an active rally, the price may well test the Fibo level of 1.618 at 2082.
We have strong potential from both technical and fundamental points of view.
Strong support at 2025 (breakout strategy), and 2010
Strong resistance at 2032 (breakout strategy), 2050 and 2070.
I expect a price consolidation above the 2025 level followed by a rise. I have long held targets at the 2050 and 2070 levels.
If you look at the weekly chart on the left, the price is in the upper range and it is moving towards the resistance at 2070, which the gold might break-through soon. With an active rally, the price may well test the Fibo level of 1.618 at 2082.
We have strong potential from both technical and fundamental points of view.
Strong support at 2025 (breakout strategy), and 2010
Strong resistance at 2032 (breakout strategy), 2050 and 2070.
I expect a price consolidation above the 2025 level followed by a rise. I have long held targets at the 2050 and 2070 levels.
