Gold bullish scenario
Today, we see a positive price movement compared to yesterday when a new low was formed at $2589.
The US session could bring new momentum and push the price above $2620. Gold has a chance to recover to the $2635 level. With that step, we return above the 38.2% Fibonacci level.
If the bullish momentum continues, the next target is $2650 and the 0.50% Fibonacci level.
The US session could bring new momentum and push the price above $2620. Gold has a chance to recover to the $2635 level. With that step, we return above the 38.2% Fibonacci level.
If the bullish momentum continues, the next target is $2650 and the 0.50% Fibonacci level.
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The new jump in the US CPI further supported the dollar index on a bullish path. Gold did not last, and we saw another pullback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.