Gold@ Waiting SUPPORT level 1700$ for long 1805$(Weekly Base)
Gold Price pulled back from $1690 critical support but until the end of the week, price managed to reclaim the $1,733-resistance area. Gold bulls remain in control of the trend and could try to push the price to new higher highs once again 1650$, 1670$
Gold currently Proforming tow different trend short term downside and long term upside, but last week downside trend break 1713$ resistance and manage to come back $1733 Resistance. At the moment Gold under trend line of long term line,
Two things expecting Gold could break 1733$ and go upside resistance 1746$ and 1756$. If price failed to break the trendline and we could see short Support level 1710$ and 1695$ where we see new Buyer take higher high.
Gold is trading in the green for a second session after the temporary correction, the price has managed to stay above the $1,733 level signalling that the outlook is still bullish.
The tensions between the US and China and the global economy slow recovery has pushed the price higher again.
COVID-19 lockdown measures were eased lately, but unfortunately, the risk is high as the global economy could step into recession. The current US depreciation pushes the gold price higher at the end of the year.
🛑SUPPORT/RESISTANCE
✅S1= 1690
✅S2=1660$
✴️R1=1733$
✴️R2=1767$
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Gold currently Proforming tow different trend short term downside and long term upside, but last week downside trend break 1713$ resistance and manage to come back $1733 Resistance. At the moment Gold under trend line of long term line,
Two things expecting Gold could break 1733$ and go upside resistance 1746$ and 1756$. If price failed to break the trendline and we could see short Support level 1710$ and 1695$ where we see new Buyer take higher high.
Gold is trading in the green for a second session after the temporary correction, the price has managed to stay above the $1,733 level signalling that the outlook is still bullish.
The tensions between the US and China and the global economy slow recovery has pushed the price higher again.
COVID-19 lockdown measures were eased lately, but unfortunately, the risk is high as the global economy could step into recession. The current US depreciation pushes the gold price higher at the end of the year.
🛑SUPPORT/RESISTANCE
✅S1= 1690
✅S2=1660$
✴️R1=1733$
✴️R2=1767$
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.