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Can We Expect GOLD Price Above 56000 again?

free commodity gold tips chart

free commodity gold tips chart

According to this chart, gold is reversing downward after making an all-time new high of 56191. Its support level is 53800. You can take this level as a hurdle too. We may see a correction up to this after the breakdown of DR.

This dynamic resistance will initiate buying pressure for a short period. We have chances to see 55600 (T1) to 56000+ (T2) levels.

Moreover, for short-term investors, I don’t recommend selling the gold until the breakout of my support. Intraday traders can enjoy price fluctuation, consolidation, and sideways movement.

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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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