Gold Mixed testing the 1402 support and 1440 resistence. BULLISH

As you see in the image according to my personal opinion Gold will try again to reach 1439-1440. After failing we will see a fall til 1380. This is supported from the foundamental analysis where Investors are waiting from the FED a rate cut wich will give an addition push to the Gold to test the 1440 level. What I think is the the effect of Rate cut will last very short due to the publication of very good performance in Economic Datas and Grouth of the USA. wich will push the Gold Down.

Consider also that The actual price of Gold is to high so in order to go upper we must hear stronger communications about global recession. Otherwise we will see gold reaching 1350 -1321

Commentaire:

Now the next step, if the market will follow our prediction, will be the pullback till 1380.
Consider that the gold on these levels tells more about what is going on with the global economy. Let wish it will turn back because if it doesn't hard times are about to come