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Bulls Eyeing $2000.00

GOLD TECHS
  • RES 4: $2065.4 - 2.382 proj of Dec '19 - Mar rally from Mar 16 low
  • RES 3: $2027.7 - 2.236 proj of Dec '19 - Mar rally from Mar 16 low
  • RES 2: $2000.0 - Psychological round number
  • RES 1: $1981.3 - High Jul 28 and all-time high
  • PRICE: $1959.0 @ 08:20 BST Jul 29
  • SUP 1: $1907.0/1899.9 - Low Jul 28 / Low Jul 27
  • SUP 2: $1863.8 - Low Jul 23
  • SUP 3: $1841.2 - Low Jul 22
  • SUP 4: $1817.8 - 20-day EMA

Despite some volatile price action yesterday, Gold remains bullish.
Yesterday, the yellow metal traded to a new all time high of $1981.3. A
strong impulsive bull run has dominated despite being overbought and
gold for now looks set to extend the current rally. The focus is on the
psychological $2000.0 level. We are closely monitoring the current
overbought reading and any signs of a top. Initial support is at $1907.0.

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