KQMarkets

Gold - Long - Further Upside Potential

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
We currently see Gold prices potentially moving higher due to increased fears of a recession due to the inversion of the yield curve and an escalation of the US/China trade war. However, we would not want to see prices drop below the $1533 support level which could happen as the RSI is currently 85 and if stocks bounce from their currently level after the recent downturn in global equity markets.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.