SINGAPORE: Spot gold is predicted to retest a assist at $1,971 per ounce, most likely to interrupt it and fall into $1,951-$1,964 vary. The steel has moved right into a consolidation part.
Three waves make up the consolidation. To this point, solely the primary wave has accomplished.
The present wave b might finish round $1,984 or lengthen a bit to $1,992, to be adopted by a downward wave c which may journey to $1,964.
A break above $1,992 might result in a acquire to $2,005.
Spot gold to retest resistance at $1,992
On the every day chart, a pullback in direction of a falling trendline has been absent.
The robust resistance at $2,004 may have triggered this pullback, in direction of $1,939-$1,964 vary.