MCX Gold Tips – If Gold Close Below 48700 Next Target 48580—48280, Sell Sell Sell – Neal Bhai Reports
Beyond that, there are concerns about the geopolitical risks out there, as the tensions between the United States and China continue to flare up. With that being the case I like the idea of buying dips, and I think that the 50 day EMA which is rapidly approaching the $1750 level is likely to offer a lot of support.
A bounce from that area would be preferable, on a pullback that offers value. On the other hand, we could simply break above the highs of the Friday candlestick which would also be a buying opportunity in this type of environment.
Read More : MCX Gold Below 49500 and Silver Below 52500 Sell on Rise – Neal Bhai
All things being equal, I think that the market stays in an uptrend and eventually goes looking towards the $2000 level, although it does not necessarily have to do it right away.
