Gold has been trading near the $1,820-10 range since the past few trading sessions and seems to have established a base near this level, further the commodity has rebounded sharply and is trading above the 20-day SMA. RSI is also rising indicating further upside potential, short term charts are also signifying the near term trend to be positive for the safe heaven commodity. Gold could rise towards 1860.00 and 1870.00 while it sustains above 1820.00.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.