Gold - the cow continues to operate strongly
Updated
Hello traders!
Currently, gold is still consolidating its price increases since receiving news yesterday. The precious metal is currently trading at $1936, but it has yet to break through the previous resistance level of $1945.
Therefore, it is expected that when gold continues to develop towards this resistance level, a slight price decrease will be tested near the 1095 USD level, which is the area where the EMA is active. After that, this can be seen as a leverage to help gold prices rebound and continue to rise.
Currently, gold is still consolidating its price increases since receiving news yesterday. The precious metal is currently trading at $1936, but it has yet to break through the previous resistance level of $1945.
Therefore, it is expected that when gold continues to develop towards this resistance level, a slight price decrease will be tested near the 1095 USD level, which is the area where the EMA is active. After that, this can be seen as a leverage to help gold prices rebound and continue to rise.
Trade active
Comment
Currently, investors are quite cautious. The conflict in the Middle East may not settle down, but there is also the possibility of surprises that shake markets in the next days and weeks.Comment
Related publications
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.