GOLD TECHNICAL ANALYSIS : Gold Support Zone $1840—$1838, Below Target $1810 ——$1780 – Neal Bhai Reports

GOLD TECHNICAL ANALYSIS

GOLD TECHNICAL ANALYSIS : Gold prices are under down trend now-familiar range support in the 1840-$1838 Level. Breaking below this barrier on a daily closing basis looks likely to open the door for target $1810/oz figure to challenge former resistance in the $1780 zone. Alternatively, an upswing past the $1910 inflection region probably targets the swing top @ $1958.

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US PRESIDENTIAL ELECTION TO DICTATE GOLD PRICE ACTION

Gold Price Action : Gold’s inverse relationship with the US Dollar could see the precious metal continue to track lower in the near-term, given that the upcoming US presidential election on November 3 will more than likely stoke volatility up until the point that a winner is announced.

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