Gold Rebounds: Focus on 2,546 Support & Russia-Ukraine Tensions
Gold prices rose on Monday (November 18) after six consecutive losing sessions as the rally in the USD paused and escalating uncertainty over the Russia-Ukraine conflict spurred safe-haven demand.
Currently, gold is recovering after successfully testing strong support at $2,546, where the long-term uptrend intersects with potential buying zones. This positive signal reflects strong buying momentum, pushing prices back towards $2,620, near the EMA 34 and EMA 89, key dynamic resistances.
If prices break above the $2,620 level, the next target could be the resistance zone at $2,791, where significant selling pressure awaits.
With the Russia-Ukraine tensions showing no signs of de-escalating, gold prices could climb even higher in the future. Traders should closely monitor developments in this situation.
Currently, gold is recovering after successfully testing strong support at $2,546, where the long-term uptrend intersects with potential buying zones. This positive signal reflects strong buying momentum, pushing prices back towards $2,620, near the EMA 34 and EMA 89, key dynamic resistances.
If prices break above the $2,620 level, the next target could be the resistance zone at $2,791, where significant selling pressure awaits.
With the Russia-Ukraine tensions showing no signs of de-escalating, gold prices could climb even higher in the future. Traders should closely monitor developments in this situation.
Trade ativo
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.