LeoPrime Daily Market Analysis

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Gold approached support zone; Likely to rise to 1917.000

Gold is currently treading close to the combined support zone located between the key support level 1860.00 (former monthly low from August), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from June. Given the clear longer-term uptrend – Gold is likely to reverse up from this support zone and rise toward the next resistance level 1917.00 (former support from the start of September). In the alternative scenario the price is likely to test the next support at 1800.00

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