XAUUSD Gold trade analysis

The price of gold continues to stabilize in the trading range above US$2,000, and many people in the Asian market are rushing to buy gold.
With the rapid inflow of funds, demand will provide solid support for gold prices.
If gold breaks through 2,031 US dollars per ounce, this will open up space for gold prices to rise further. Gold prices closed above 2016 US dollars per ounce yesterday. After the start of today's trading, gold prices rose further and attacked the resistance of the small bearish channel. This re-formed a potential bullish flag pattern, which may push gold prices to rise further in the next few trading days, with the main target targeting 2065.70. USD/oz area.
Therefore, it is predicted that gold prices will show a bullish trend today. If it breaks through 2031.50 US dollars per ounce, this will strengthen the bullish expectations of gold prices and help push gold prices to hit the above target price. On the other hand, if gold prices fall below $2,016.90 per ounce and remain below this level, this would reactivate the corrective bearish trend with the next major target located at $1,977.46 per ounce.

Comment:

active trade

Comment:

active trade

Comment:

active trade