In the larger timeframe (Monthly Chart), we can see there is a range in this timeframe between 1,770.60 and 1,824.30. This Liquidity Pool will be act as a magnet area for this asset to be reached. The coronavirus epidemic is setting the tone for the global market conditions. The outbreak gives a negative domino effect for almos tall countries. Uncertainty forces traders and investors to protect their asset into the safest and low-risk assets and one of them is Gold. So, the odds are that Gold will extend its bullish bias as long the Gold price does not drop below 1,445.20 which can halt the bullish bias at least temporarily.
(Disclaimer)
