Advertisements

Gold Price Hovers Near Key Support Level

by Jennifer

Gold price is currently hovering around the $1977.25 support level. It has exhibited positive movements, surpassing this level. Additionally, technical indicators are providing positive signals, increasing the likelihood of further gains in the upcoming sessions.

As a result, we maintain our bullish outlook for both the intraday and short-term scenarios, with a target set at $2016.90 as the next significant resistance level. However, it is crucial to note that failure to maintain a price level above $1977.25 could lead to a reversal and a descent toward the $1945.20 price zone before a potential rebound.

Advertisements

For today, the expected trading range is between the support level at $1965.00 and the resistance level at $2000.00. The overall expected trend for today is bullish.

Advertisements

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News