Daily analysis
As shown in the technical chart, the RSI and stochastic indexes have turned back from the overbought area, and the short-term gold price tends to make further adjustments. The closer support is expected to be $2,605 and $2,588, and the next level refers to the 100-day average of $2,567. The fall in gold prices in the middle of this month also happens to be supported at the 100-day average. The key is that in 2535, from the bottom of the consolidation from May to June to the bottom of $2,280 to the end of last month, it will reach a cumulative increase of $510, and half of it will be $255 to $2,535. As for the current closer resistance, let’s look at $2,635 and $2,660, and the next level is estimated at $2,690.
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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.