Gold is very bullish. A recovery in the price of Gold was quickened by the risk-off sentiment which prevailed in the markets.
1580-1600 zone is bullish. If the price manages to stay above 1600 watch for 1-2-3 pattern above 1641.In that case the target will be 1652. Above 1652 we should see a retest of 1700 zone. The price needs to stay above 1550 else the trend might change again. At this moment, bulls are fully in control.
The Analysis has been done with the CAMMACD.Core and Sit Systems
This article was originally posted on FX Empire
More From FXEMPIRE:
- U.S. Dollar Index (DX) Futures Technical Analysis – As Liquidity Issues Ease, Headed to 99.245 – 98.130
- Crude Oil Price Update – Trader Reaction to $24.50 Will Set the Tone on Wednesday
- Lockdown and Economic Stability – Impact of the Coronavirus on the World’s Economy Today
- EUR/USD Mid-Session Technical Analysis for March 25, 2020
- AUD/USD Forex Technical Analysis – Big Test for Counter-Trend Buyers at .6098 to .6236
- USD/JPY Forex Technical Analysis – Strengthens Over 111.476, Weakens Under 110.726