Get started
MargaretYang

Gold Prices Breach Key Chart Support, Trend-Reversal May Follow

CFDs on Gold (US$ / OZ) (TVC:GOLD)  
MargaretYang  
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Support and Resistance Trend Lines Gold
4
0
trendanalysis supportandresistance trendline gold
-Gold prices broke below the floor of the "Ascending Channel", signaling a bearish trend-reversal
- Fed's hawkish gesture during the June FOMC meeting hammered bullion prices
- 50-day SMA line may be viewed as an immediate support, breaching which may lead to further losses
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.