The market opened at 1767 early in the Asian session and the price gradually sinks toward day low 1757. The price climbed back to the day-high 1770 at the US session. The day ended near 1764, down by USD 2.
The price has broken out from yesterday's resistance 1770 early in the Asian session today, the upside can target 1780 for now. Overall the price is still maintaining its path with the uptrend channel(2), with the bottom support line shifted from (2.1) to the newly formed (2). Expect the price range-bound between 1760-80(1) within the day.
Gold is keeping its pace with the uptrend channel(3) on the daily chart, and the price is once again approaching the key 1780 resistance(4).
S-T Resistances:
1796
1788
1780
Market price: 1776
S-T Supports:
1775
1768-70
1760
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The price has broken out from yesterday's resistance 1770 early in the Asian session today, the upside can target 1780 for now. Overall the price is still maintaining its path with the uptrend channel(2), with the bottom support line shifted from (2.1) to the newly formed (2). Expect the price range-bound between 1760-80(1) within the day.
Gold is keeping its pace with the uptrend channel(3) on the daily chart, and the price is once again approaching the key 1780 resistance(4).
S-T Resistances:
1796
1788
1780
Market price: 1776
S-T Supports:
1775
1768-70
1760
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
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