Gold: A conservative view to go long.
We can see gold perfectly broken the falling wedge pattern and closed below a very important resistance level 1555. Recent rally shows a very positive demand for gold. But analyzing the previous prices to me 1564-1555 zone will work as a resistance zone. We can expect some retracement towards 1532 level. A successful break above 1564 level will give us opportunities to the level 1589 or 1590 level.
In case if there is no retracement, still we should wait to see a break above 1564 for perfect entries. The overall gold is in bullish mode.
Safe trading. Also, analyze US and IRAN situations because this will have a major impact on GOLD.
Chief Analyst Real Forex MM