Gold has climbed for the 3rd consecutive week since it rebounded off from the neckline of a previous double bottom.
Resistance is currently seen at 1815 as gold kept getting rejected multiple times and ranged for 4 days already.
This could very well bring about another pullback based on the volume and the duration of the current bullish wave.
However, given the fact that it was able to close and stay supported at the resistance turned support level 1795, we shall adopt a more bullish view and look for buying opportunities.
We are expecting pullbacks at the beginning and will be looking to buy from 1803.
And if the gold is able to trend and break 1820, we see a potential of reaching 1860 as there won't be much resistance in between.
Resistance is currently seen at 1815 as gold kept getting rejected multiple times and ranged for 4 days already.
This could very well bring about another pullback based on the volume and the duration of the current bullish wave.
However, given the fact that it was able to close and stay supported at the resistance turned support level 1795, we shall adopt a more bullish view and look for buying opportunities.
We are expecting pullbacks at the beginning and will be looking to buy from 1803.
And if the gold is able to trend and break 1820, we see a potential of reaching 1860 as there won't be much resistance in between.
