The price of gold has shown signs of volatility in recent times. The price line previously formed a bullish wave, which could have touched the resistance level indicated as a light red box. However, the price line started moving bearishly thereafter. Nonetheless, the price line could break above its bearish channel and is now potentially poised to enter a bullish phase once more. This could happen after a retest of the top line of the broken channel. Overall, these price movements in the gold market are a reflection of the constantly shifting global economic landscape, and investors will need to carefully monitor future developments to make informed investment decisions.
• There is a resistance level at 1870 followed by resistance at 1915 and 1940
• There is a support level at 1824. Below, there is 1820 and 1800.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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