After exiting the all-time high, the price of gold has continued to decline and is now closer and closer to the psychologically important mark of $2,000.
Gold may be under selling pressure in the near future. In the short term, gold is under pressure as the US dollar recovers slightly and oil prices fall, but technical analysis suggests that gold prices are likely to rise fairly sharply. In the long run, the US dollar can avoid a downward trend if the US Federal Reserve quickly shifts monetary policy. Gold prices continue to show a clear upward trend. Gold continues to be seen as a safe investment channel in a world full of uncertainty, and mid-sized banks continue to buy this precious metal in large quantities. For now, the upside still has the potential for short-term overall technical advantage, with the pair aiming to break above solid resistance at all-time highs.
Gold may be under selling pressure in the near future. In the short term, gold is under pressure as the US dollar recovers slightly and oil prices fall, but technical analysis suggests that gold prices are likely to rise fairly sharply. In the long run, the US dollar can avoid a downward trend if the US Federal Reserve quickly shifts monetary policy. Gold prices continue to show a clear upward trend. Gold continues to be seen as a safe investment channel in a world full of uncertainty, and mid-sized banks continue to buy this precious metal in large quantities. For now, the upside still has the potential for short-term overall technical advantage, with the pair aiming to break above solid resistance at all-time highs.
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TP1: 2018
TP2: 2000
SL: 2042