The gold price appreciated 0.87% since Friday’s session. During the previous trading session, the yellow metal broke the large pattern to stop the trade at the 1,218.76 mark. During Monday morning hours, the gold broke the monthly R2 at the 1,227.33 mark to trade at the 1,230.99 mark.
In regards to the near-term future, the gold will trade upwards to the upper boundary of the ascending medium pattern which is located at the 1,235.50 mark. Most likely the yellow metal will trade at the 1,230.00 level during the day.
However, today’s US fundament data sets could help the yellow metal to break the resistance of the pattern line to trade at the 1,240.00 level.
In regards to the near-term future, the gold will trade upwards to the upper boundary of the ascending medium pattern which is located at the 1,235.50 mark. Most likely the yellow metal will trade at the 1,230.00 level during the day.
However, today’s US fundament data sets could help the yellow metal to break the resistance of the pattern line to trade at the 1,240.00 level.
Comment:
The gold price depreciated 0.12% since Wednesday’s session. During the previous trading session, the yellow metal was resisted by the 55-hour SMA to pass through the 100-hour SMA to stop the trade at the 1,221.71. During Thursday’s morning hours, the gold was resisted by the 100-hour SMA to trade at 1,222.55 mark.
On Thursday, most likely, the gold will trade down towards the upper boundary of the dominant descending pattern at 1,209.98 mark. It is expected that the rate will be traded at 1,215.00 during the day.
Besides, none of the technical indicators can prevent the rate from the downwards movements during the day.
The gold price depreciated 0.12% since Wednesday’s session. During the previous trading session, the yellow metal was resisted by the 55-hour SMA to pass through the 100-hour SMA to stop the trade at the 1,221.71. During Thursday’s morning hours, the gold was resisted by the 100-hour SMA to trade at 1,222.55 mark.
On Thursday, most likely, the gold will trade down towards the upper boundary of the dominant descending pattern at 1,209.98 mark. It is expected that the rate will be traded at 1,215.00 during the day.
Besides, none of the technical indicators can prevent the rate from the downwards movements during the day.
Comment:
The gold price appreciated 0.43% since Thursday’s session. During the previous trading session, the yellow metal broke the resistances of the 55-hour and the 100-hour SMAs to stop the trade at the 1,225.36. On Friday morning, the gold was supported by the 55-hour SMA to trade at 1,226.26 mark.
In regards to the near-term future, most likely, the gold will break the resistance of the monthly R2 at 1,227.33 mark to surge to the upper boundary of the ascending dominant channel line at 1,235.63 mark.
On the other side, the rate might be resisted by the monthly R2 at 1,227.33 mark to push the rate to pass the 55-hour and the 100-hour SMAs to trade at 1,220.00 level.
The gold price appreciated 0.43% since Thursday’s session. During the previous trading session, the yellow metal broke the resistances of the 55-hour and the 100-hour SMAs to stop the trade at the 1,225.36. On Friday morning, the gold was supported by the 55-hour SMA to trade at 1,226.26 mark.
In regards to the near-term future, most likely, the gold will break the resistance of the monthly R2 at 1,227.33 mark to surge to the upper boundary of the ascending dominant channel line at 1,235.63 mark.
On the other side, the rate might be resisted by the monthly R2 at 1,227.33 mark to push the rate to pass the 55-hour and the 100-hour SMAs to trade at 1,220.00 level.
The gold price depreciated 0.34% since Tuesday’s session. During the previous trading session, the yellow metal passed through the 55-hour SMA to stop the trade at the 1,226.72 mark. During Wednesday’s morning hours, the gold was trading between the 55-hour and the 100-hour SMAs at 1,222.53 mark.
In regards to the near-term future, most likely, the gold will trade sideways among the large pattern line and the monthly PP at 1,227.33 mark.
Besides, the 100-hour simple moving average will try to support the rate during the trading session. Most likely, the gold will be traded at the 1,220.00 level on Wednesday.