GOLD is currently moving around $1900 price, the current Geopolitical situation due to the war conflict between Russia and Ukraine is Risk On situation. During this type of Risk On situation the fear of investors become higher and they try to put their money into safe heaven assets like Gold, CHF and JPY etc. This is the fundamental reason behind the recent bullish rally in Gold.

Lets have a look at Technical Analysis on Weekly Timeframe. The current trend of Gold is clearly bullish, it has been making higher highs and higher lows. It has tested the Bullish point of structure around $1700. Technically this area is considered as a bullish trend continuation area and usually we see market moving higher when this type of technicals came up. SO keeping in mind the market structure on weekly timeframe we can expect Gold moving more higher towards $2000 area. But there are some hurdles and areas of mitigation on daily timeframe that will show resistance.

Now lets take a look on daily timeframe, the market structure is not that bullish, there are some resistance areas that needed to break before going higher. First resistance is around $1910, Gold will see some resistance around this area and a possible bearish correction is expected. On a break above this zone the key area of Resistance is around $1950, this resistance is also the last point of bearish structure and a major bearish correction is expected from this zone towards 1850.

So to conclude we can say that Gold is bullish for the long term but it will see some bearish corrections in way towards $2000.