On the flip side, the $1,910 area is likely to act as an immediate hurdle ahead of the overnight swing high, around the $1,916 zone. The subsequent move up could lift the Gold price beyond the $1,925 intermediate resistance, towards the $1,934-$1,935 resistance and the $1,942 supply zone. A sustained strength beyond the latter might trigger a short-covering rally towards the $1,954-$1,955 resistance en route to the $1,965 area, which coincides with the 100-day SMA and should act as a key pivotal point. Hence, some follow-through buying will negate the negative outlook and shift the near-term bias in favour of bullish traders.
Gold buy 1904
Target 1910
Target 1916
Target 1925
Sl 1894
Gold buy 1904
Target 1910
Target 1916
Target 1925
Sl 1894
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40 pips running
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60 pips first target hit
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