Gold maintains a bullish outlook despite the recent temporary drop. It is trading at $1,952 level way above $1,900 psychological level and the uptrend line, the next upside target remains at $2,000 level.
The price of gold has decreased within a minor down channel, but the current breakout announces another upside movement, increase. For those who are not already long, you could search for buying opportunities here if the rate will jump above $1,960 level or from above $2,000 psychological level.
- Gold Trading Tips
Buy a broken downtrend line retest or a fly above $1,960 level with a fist upside target at $2,000 level. Passing above $2,000 validates a return towards $2,075 historical high.
Any selling opportunity is ruled out now, only a drop below $1,900 will activate a downside scenario.
