Gold shall take little dip
2 Comments for:
Gold hit around 637/638 level, We could see a Dip soon,
As its in OverBought Territory
And a Slight Dip should come, for it to cycle its bullish trend.
As we stated in Europe morning gold crossing 630 would lead 640 levels, Eventuall the technical factors werent favorable at that period.
However, current Picture understand for a Bullish Trend to begin, Traders coming back from Vacations, Summer Holidays coming to end.
New Fresh Buying did emerge, but a dip is necessary for a continuous bullish cycle to move on.
640 level is Main Resistance, crossing that shall lead it upwards to 650 zone.
A Slight dip should Make gold stand above 630. Which is in favourable for a Bullish Picture.
posted by GoldTrade @ 5:53 AM
2 comments
2 Comments:
how much of a dip are you expecting??before it starts to rise
Around 632 level we should see it to Lie,
As Technical Fundamentals suggest for a Small dip,
However BULLISH Channel has emerge,
And we could see small dip, Little technical correction, and then up towards 650 levels once again.
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