Oro / DollaroLong
Latest Gold Weekly Forecast: 1920-$1912 to $1935-$1943
Gold's closing above $1896 for the 2nd consecutive week indicates continuation of Bullish Trend. For Monday opening, Gold needs to hold above $1920 support which will help it to continue with its upside momentum reaching $1935 again above which $1943 sits as next Resistance cum Target.
Weakness below $1920 may be seen as willingness to decline to $1912 which is another support failing which $1896 horizontal support gets exposed.
On a broader perspective Gold will require holding above this $1896 demand zone to resume uptrend which has major upside Target at $1972
Sustained break below $1896 will put brakes on Bullish momentum triggering a sell off towards $1880
Short Term Support : $1920-$1912
Short Term Resistance : $1935-$1943
Major Support : $1896-$1880
Major Resistance : $1956-$1972
Weakness below $1920 may be seen as willingness to decline to $1912 which is another support failing which $1896 horizontal support gets exposed.
On a broader perspective Gold will require holding above this $1896 demand zone to resume uptrend which has major upside Target at $1972
Sustained break below $1896 will put brakes on Bullish momentum triggering a sell off towards $1880
Short Term Support : $1920-$1912
Short Term Resistance : $1935-$1943
Major Support : $1896-$1880
Major Resistance : $1956-$1972
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