[Where Did You Gold?] Gold Just Sprinted to $1,910, Long or Short?
Kuala Lumpur 5:30 p.m. (GMT+8) - In the early European market, spot gold prices has been rising persistently to the level around $1,910 per ounce.
On the gold price movement today, Swissquote Bank wrote a brief analysis as follows:
![[Where Did You Gold?] Gold Just Sprinted to $1,910, Long or Short?](https://socialstatic.fm-cdn.com/social/202010/ff96fee425814f3eba6a9d3d21ee7183.png?x-oss-process=image/quality,q_70/format,jpeg)
Illustration photo of Gold H4 Chart from Investing.com
If the gold price breaks through the resistance level of $1,910 per ounce, it will continue on a bullish momentum with the next targets set at $1,914 and $1,920 per ounce.
On the other hand, if the gold price falls below the $1,910 per ounce level, this will drag the gold price further to the first target level of $1,899 and the next will be $1,894 per ounce.
Rationale : RSI indicator touched the level of 50.
As a conclusion, $1,894.00 and $1,920 per ounce will constitute the short-term support and resistance to the gold prices, respectively.
Translated and processed from the main article: https://www.24k99.com/2010/432...
Edited 23 Oct 2020, 18:37
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.