expect a small pullback to another buy opportunity
Hi Traders,
Gold spot price jumped by 1.63% as US Dollar index weakened by 0.87% since China amplified its official gold reserves.
The Gold price broke above the $1,325 resistance and goes toward the $1,350 level during the intraday trading.
Meanwhile, the United States and China trade talks showed progress, but the White House said a lot needs to be worked on to implement changes on the Chinese trade behavior.
It is suggested for gold traders to be careful about cutting the profit off or continuing to hold as the RSI Indicator is showing overbought settings in all major timeframes.
Resistance line : 1350.20
Support Line : 1338.22
Gold spot price jumped by 1.63% as US Dollar index weakened by 0.87% since China amplified its official gold reserves.
The Gold price broke above the $1,325 resistance and goes toward the $1,350 level during the intraday trading.
Meanwhile, the United States and China trade talks showed progress, but the White House said a lot needs to be worked on to implement changes on the Chinese trade behavior.
It is suggested for gold traders to be careful about cutting the profit off or continuing to hold as the RSI Indicator is showing overbought settings in all major timeframes.
Resistance line : 1350.20
Support Line : 1338.22
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