Gold Outlook for the day 25th may.
Gold has shown a sharp up move, which led to the breakout of bearish trendline that was intact since may 12th, before the up move price can be seen taking the firm support of zone 1.
After the breakout our view changed to bullish, as price is still withing the range of Zone 1 & 2 and retracing, any bullish trade opportunity should be attempted, above the trendline 1 breakout.
Important levels
* 4580-4590 (Zone-2) is important resistance level, which once taken out we can see good up moves.
* on the lower side 4500 or (zone-1) is important support.
Strict Risk management and Position should be sized according to individuals risk apatite.
For Educational Purposes only, Not an Investment Advice
Gold has shown a sharp up move, which led to the breakout of bearish trendline that was intact since may 12th, before the up move price can be seen taking the firm support of zone 1.
After the breakout our view changed to bullish, as price is still withing the range of Zone 1 & 2 and retracing, any bullish trade opportunity should be attempted, above the trendline 1 breakout.
Important levels
* 4580-4590 (Zone-2) is important resistance level, which once taken out we can see good up moves.
* on the lower side 4500 or (zone-1) is important support.
Strict Risk management and Position should be sized according to individuals risk apatite.
For Educational Purposes only, Not an Investment Advice
Attached Image (click to enlarge)
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