Gold consolidates around 1098 levels, bias remains bullish- long around 1096, targets around 1103/1108, SL 1090
Gold has consolidated around to trade around 1096 levels, yellow metal initially slipping towards 1092 levels in the early European session. However in the early US session the commoditity recovered some lost ground reve…
Gold has consolidated around to trade around 1096 levels, yellow metal initially slipping towards 1092 levels in the early European session. However in the early US session the commoditity recovered some lost ground reversing earlier course. The yellow metal is set to advance further as the support level at 1092 is set to limit downside in the short term.
To the upside, the strong resistance can be seen 1100, a break above this level would expose the commodity towards 1109 levels.
To the downside immediate support can be seen at 1092, a break below at this level will open the door towards 1085 levels.
Recommendation: Go long around 1096, targets around 1103/1108, SL 1090
