Hello everyone,
GOLD NEW FORECAST
The price of gold is trading at the support of the ascending channel that appears in the chart above, and according to the rules of trading within price channels, the price is on its way to rebound upwards and start an upward wave in the immediate term, targeting to visit the 2007 level initially. and then to get the second resistance line located at 2022 will be activated when the price can stabilize above the first resistance which is located in 2007
Therefore, an upward base will be likely for this week when can stabilize above 2007, supported by the positivity of the technical indicators,
keeping in mind, that the breaking of 1990 will put the price under negative pressure to head towards reaching the 1963 areas before any new attempt to rise.
Pivot Price: 1997
Resistance prices: 2007 & 2022 & 2033
Support prices: 1990 & 1980 & 1963
The general trend expected for today is bullish
GOLD NEW FORECAST
The price of gold is trading at the support of the ascending channel that appears in the chart above, and according to the rules of trading within price channels, the price is on its way to rebound upwards and start an upward wave in the immediate term, targeting to visit the 2007 level initially. and then to get the second resistance line located at 2022 will be activated when the price can stabilize above the first resistance which is located in 2007
Therefore, an upward base will be likely for this week when can stabilize above 2007, supported by the positivity of the technical indicators,
keeping in mind, that the breaking of 1990 will put the price under negative pressure to head towards reaching the 1963 areas before any new attempt to rise.
Pivot Price: 1997
Resistance prices: 2007 & 2022 & 2033
Support prices: 1990 & 1980 & 1963
The general trend expected for today is bullish
