Gold and silver have tested the support on Friday and recovered to 23% and closed below 23%.....
This has a reason that it may fall again.....
But there is another possibility to think too.....
Those who have bought on Friday should see immediate target as 27040-27170....If Gold fail to trade above 27175 for 1 hr and show a reversal candle pattern then be ready for another drop....which may be final drop and then we may see gold continue to up trend....Long term trend still remains bullish....
Gold should quickly surge to 27500+ levels from 27170 level to make it bullish again....
So my advice will be to book all buying positions at 27040-27170 and wait to see where the market is heading.....
This has a reason that it may fall again.....
But there is another possibility to think too.....
Those who have bought on Friday should see immediate target as 27040-27170....If Gold fail to trade above 27175 for 1 hr and show a reversal candle pattern then be ready for another drop....which may be final drop and then we may see gold continue to up trend....Long term trend still remains bullish....
Gold should quickly surge to 27500+ levels from 27170 level to make it bullish again....
So my advice will be to book all buying positions at 27040-27170 and wait to see where the market is heading.....