Gold Price Needs to Hold Above $1,935

Heading into a new week this Monday, gold price is back in the red zone. $1,935 holds the key for gold price. The next crucial support is seen at the 23.6% Fibo level at $1,935.

Gold Price Needs to Hold Above $1,935

A firm break below the latter will open floors towards the previous week’s low of $1,910. Further south, powerful support near $1,895 will challenge the bullish commitments. If bulls manage to find a strong foothold above the 38.2% Fibo level at $1,961, then a test of the previous week’s high at $1,966 will be inevitable. Gold buyers will then target the $1,970 round level, above which the 50% Fibo level at $1,982 will be threatened.

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Gold Price Needs to Hold Above $1,935 via @marketinvestor
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