Gold experienced a sharp correction but maintains a bullish outlook while holding above the 4600-4620 support zone.
Gold hit a fast drop as the market views this drop as a correction.
As we see over the chart, the main support trend zone is at 4600-20, where as long as the market holds above it, the advance wave could return towards the 4820-60 zone.
Below 4600 more of a drop will be expected with support at 4480.
SUPPORT | RESISTANCE | |
LEVEL1 | 4600-20 | 4710 |
LEVEL2 | 4480 | 4765 |
LEVEL3 | 4350 | 4800 |
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