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Gold Price Action | Volatility ahead for Precious metal

Gold Price action should break the resistance at 1250.00 to continue upside

Gold facing a Key resistance level at 1250.00. Price action must clearly breach this level to continue further positive growth. Temporary fluctuations and noises beyond this resistance level can’t be considered as a valid breakout, prices should break and retest 1250.00, only then we can expect the positive tone to continue. Market may get more volatile in coming days, so traders must have a tight risk management while initiating trades.

The precious metal had a great start in the beginning of this year. Gold prices rose from 1130 – 1260$ per ounce, within a period of 2 and half months. (In Gold international spot market) But somehow the bullish tone couldn’t keep up till the end of February. After testing the resistance level at 1250.00, (also a Psychological round number) Gold prices saw a sharp selloff to 1200.00. Later prices did rebound from 1200.00, but it resulted in a sense of uncertainty for traders. Market sentiment is neutral for now, Keep watching the price action till we get some clarity.


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About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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