03.07.201917:17 Forex Analysis & Reviews: Gold 07.03.2019 - New wave of buyers is expected

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.Trading recommendation:

Gold has been trading lower in past 20 hours. Anyway, the Gold found support at the price of $1.411, which is our strong support level (Fibonacci expansion 100% and Fibonacci retracement 38%). Further upward is expected.

Red rectangle – Strong support ($1.411)

Orange rectangle- Resistance ($1.435)

Red line – 20 EMA

Stochastic oscillator is showing us that there the oversold, which is sign that selling at this area looks risky. I found strong support area from $1.412-$1.415. There is strong upward trend in the background, and loading long positions from this good support zone looks very attractive. As long as the Gold is trading above the $1.410, I would like to buy on the dips. Potential test of $1.435 is very possible. Watch for buying opportuniuties.

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