By Orbex
The gains in the precious metal saw price rising to the 1950 level. This marks the second retest of this level since November 2020.
Previously, prices fell back right after testing this level. At the moment, the Stochastics oscillator is in the overbought levels.
This could potentially signal another correction lower. The immediate support level is near the 1911 – 1950 level for the moment.
In the event that gold prices continue to edge higher, then a higher low needs to form above 1950. Above this level, the next clear challenge will be the psychological level of $2000.
Free Reports:
By Orbex
By Analytical Department RoboForex EUR/USD began the week trading around 1.1381. The US dollar has…
By JustMarkets By the end of the day, the Dow Jones Index (US30) fell by…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro The latest update for the weekly Commitment of Traders (COT) report was released…
By RoboForex Analytical Department The GBP/USD pair continued to decline against the US dollar on…
By JustMarkets On Wednesday, the US stock indices closed mixed as caution persisted in the…
This website uses cookies.