Gold Bullish Outlook

Gold Bullish Outlook On the daily chart, Gold has been trading with a higher high’s formation, while testing the previous swing highs. While the prices have taken resistance of the 76.8% extension level at 67000, which would be a crucial level to breach to resume the bullish move. Gold has also sustained above the short-term moving average at 65500 acting as an immediate support for the precious metal. The RSI has a positive crossover to support the bullish move within the oversold zone of the oscillator, still supporting the bullish move as the prices are yet to breach the previous day’s low for the last 4 sessions. Therefore, till the prices sustains the yesterday’s low buy on dips strategy should be used targeting the levels of 67000/67200 for the coming session. Thus, with the above analysis, we expect the prices to trade with a bullish bias for the day.

Gold Bullish Outlook

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