Gold recovers slowly but has not disappeared ?
Hello dear friends!
Just like yesterday, gold experienced strong fluctuations after the evening news and quickly returned to the previous trading level around $1987, with little change compared to the same time yesterday. Gold prices are seeking support from the weak performance of the US Dollar and the low interest rates of the US Treasury bonds as they attempt to stabilize after significant losses caused by the uncertain policies of the Federal Reserve.
On the 4-hour analysis chart:
Although gold is still limited below $2000, the long-term upward trend is still strongly supported. The strong support level at $1977 continues to serve as a good support for this precious metal. If the recovery of gold prices gains momentum, an immediate resistance level will be seen at the highest point on Wednesday, which is $1993, and above that, the $2000 level will be retested.
Acceptance above the multi-month high of $2009 is crucial for a recovery towards the highest levels seen in May near $2020.
What about you? Do you think gold will continue to rise? Or are you hoping for a decrease in gold prices?
Just like yesterday, gold experienced strong fluctuations after the evening news and quickly returned to the previous trading level around $1987, with little change compared to the same time yesterday. Gold prices are seeking support from the weak performance of the US Dollar and the low interest rates of the US Treasury bonds as they attempt to stabilize after significant losses caused by the uncertain policies of the Federal Reserve.
On the 4-hour analysis chart:
Although gold is still limited below $2000, the long-term upward trend is still strongly supported. The strong support level at $1977 continues to serve as a good support for this precious metal. If the recovery of gold prices gains momentum, an immediate resistance level will be seen at the highest point on Wednesday, which is $1993, and above that, the $2000 level will be retested.
Acceptance above the multi-month high of $2009 is crucial for a recovery towards the highest levels seen in May near $2020.
What about you? Do you think gold will continue to rise? Or are you hoping for a decrease in gold prices?
Comment:
Gold has grown to the extent of resistance as analysis
