Big question is whether we can go with gold as an investment tool in this area or not? In my view surely gold is solid investment tool but in this price area within current world economic situation should not.
Within very few days may within 1st half of next week we can see gold to move within a range of $664/68 to $748/52. Immediate support $672/74 and $664/668 and immediate resistance is $737and $748/52.Extreme resistance is $788/92 which should not break even not to touch.
In short to mid term can see to gold break the support area of $664/668 towards $572/76, $558 and $538. Possible a consolidation phase can get after getting this support area of $558-$538.
If due to any reason it breaks resistance of $788/92 and can able to hold above then some different situation can arise, although it’s a slim chance.
Within very few days may within 1st half of next week we can see gold to move within a range of $664/68 to $748/52. Immediate support $672/74 and $664/668 and immediate resistance is $737and $748/52.Extreme resistance is $788/92 which should not break even not to touch.
In short to mid term can see to gold break the support area of $664/668 towards $572/76, $558 and $538. Possible a consolidation phase can get after getting this support area of $558-$538.
If due to any reason it breaks resistance of $788/92 and can able to hold above then some different situation can arise, although it’s a slim chance.
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