Gold trend and the 1961-1963 resistant zone

Gold broke the 1936-1939 and it has gone up to test the 1961-1963 zone several times on July 13, 14, 2023.

Using the Gold H4 chart above, short term gold trend has been up after breaking the 1936-1939.

The 1961-1963 is a strong resistant zone and gold has to break the 1961-1963 to continue its up trend to 1983-1985.

Gold is expected to trade from 1936-1939 and 1961-1963 following US Dollar Index. Gold is forming a strong resistant zone around 1961-1963 and the US Dollar Index is showing sign of reversal.

July 17 to July 21, 2023 : gold will trade from 1961-1963 to 1933-1939 if gold is not able to break the 1961-1963.

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