Hello Traders!
Last week, we witnessed a fantastic performance by gold as it surged to a remarkable high of $1932 and broke out of its downward channel.
Today, at the start of the precious metals trading session, there is a slight dip as prices test the breakout level, currently trading around $1919 - $1920. However, the current environment and global situation continue to support an upward movement in gold, so it is highly likely that we will soon see new higher price levels in the near future.
Last week, we witnessed a fantastic performance by gold as it surged to a remarkable high of $1932 and broke out of its downward channel.
Today, at the start of the precious metals trading session, there is a slight dip as prices test the breakout level, currently trading around $1919 - $1920. However, the current environment and global situation continue to support an upward movement in gold, so it is highly likely that we will soon see new higher price levels in the near future.
Trade active:
gold down now
Comment:
Currently, the immediate target for gold is gradually approaching the 1905 USD area (close to the operating area of EMA 34 and 89). If this target is achieved and gold maintains stable trading levels there, a new upward trend will occur with the nearest target at 1936 USD, followed by a higher peak at 1980 USD.
