Hello dear friends, Today the price of gold is trading quite gloomy, down nearly 5 USD and trading around 2050 USD with the trend seemingly starting to move sideways as the market is quite quiet from the holiday event of banks .
The next downside price objective is seen at the triangle support at $2,049. Further out, Friday's low of $2,027 could bring temporary respite to Gold buyers.
The final line of defense for Gold optimists is seen day at $2,020.
On the upside, strong resistance is seen at around $2,060, above which static resistance at $2,080 will come into play. If the bullish momentum regains traction, a retest of the $2,100 barrier cannot be ruled out.
The next downside price objective is seen at the triangle support at $2,049. Further out, Friday's low of $2,027 could bring temporary respite to Gold buyers.
The final line of defense for Gold optimists is seen day at $2,020.
On the upside, strong resistance is seen at around $2,060, above which static resistance at $2,080 will come into play. If the bullish momentum regains traction, a retest of the $2,100 barrier cannot be ruled out.
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