Gold is still in an uptrend after a fake breakout

22 בדצמ׳ 2021

gold holds its uptrend bias again after a fake breakout. Gold was unable to break below its psychological level 1750 price zone. and even $1750 playing as strong support as well since 2020.

So, as long as the gold price holds above the $1750 price zone, it won't change its uptrend bias.

From the present situation, $1815 /1817 seems immediate resistance, breaking above $1815 next target $1830/1835 price zone. Finally, the upside target is 1857 before another leg down.

I would suggest not buying gold at the $1855/1875 price zone. because this price zone seems to be trendline resistance. So it is expected that gold may go correct from that level.

But if you find that gold breaks above the $1875, you can keep carrying your buy order till $1912 and $1950/1960 price zone.