Gold increases to 2000 USD, what is the next goal?
Hello dear friends, the past week of trading has seen gold surpass the $2000 resistance level as expected! Let's recap the previous week and evaluate the strategy for the upcoming week together with Karina.
Overall, gold has maintained a relatively stable trend around the $1990 - $1970 range, without any significant breakthroughs. However, the price of gold has still shown considerable growth and there are no signs of a slowdown.
As Karina predicted last Friday, it was likely that the price of gold would surpass the $2000 resistance level by the end of the day. And indeed, gold closed at $2006, achieving the expected target. Similar to the previous two weeks, the global gold market has witnessed strong buying pressure during the last trading session of the week as investors seek to protect their assets amidst uncertain developments in the Middle East. This strong momentum has contributed to the rise in gold prices.
Regarding the forecast and trading strategy for the upcoming week:
- Since gold has recently surpassed the strong psychological resistance level of $2000, it is likely that there will be a period of slight sideways movement around this level in the coming week to ensure and confirm the potential for price increase. The current strong support level is at $1980, with the next targets for gold being three levels as indicated on the analysis chart ($2015, $2035, and $2050). Another confirming factor for the price increase in gold is the reversal signal of the 34-day Exponential Moving Average (EMA). Karina remains optimistic that gold may reach the $2050 level with some short-term corrective declines. The only question now is how long it will take to reach this figure.
The upcoming week promises to be an interesting and exciting trading week. Let's wait and see the results together with Karina! Good luck to all of you.
Overall, gold has maintained a relatively stable trend around the $1990 - $1970 range, without any significant breakthroughs. However, the price of gold has still shown considerable growth and there are no signs of a slowdown.
As Karina predicted last Friday, it was likely that the price of gold would surpass the $2000 resistance level by the end of the day. And indeed, gold closed at $2006, achieving the expected target. Similar to the previous two weeks, the global gold market has witnessed strong buying pressure during the last trading session of the week as investors seek to protect their assets amidst uncertain developments in the Middle East. This strong momentum has contributed to the rise in gold prices.
Regarding the forecast and trading strategy for the upcoming week:
- Since gold has recently surpassed the strong psychological resistance level of $2000, it is likely that there will be a period of slight sideways movement around this level in the coming week to ensure and confirm the potential for price increase. The current strong support level is at $1980, with the next targets for gold being three levels as indicated on the analysis chart ($2015, $2035, and $2050). Another confirming factor for the price increase in gold is the reversal signal of the 34-day Exponential Moving Average (EMA). Karina remains optimistic that gold may reach the $2050 level with some short-term corrective declines. The only question now is how long it will take to reach this figure.
The upcoming week promises to be an interesting and exciting trading week. Let's wait and see the results together with Karina! Good luck to all of you.
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October 1 we will have two important news from Fed and one from Jolt
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