Technical analysis: Gold price stays above $2,170 amid strong US Dollar
Gold price dips toward $2,167, spurring a leg up toward the $2,170 area at around the same time the Relative Strength Index (RSI) made a U-turn and aimed upwards. Nevertheless, buyers must reclaim the $2,200 figure to keep the uptrend unchanged. That will pave the way for re-testing the all-time high of $2,223.
On the flip side, if sellers push prices below the December 4 high, which turned support at $2,146, that could exacerbate a sell-off and send XAU/USD prices diving toward $2,100. The next support would be the December 28 high, which is $2,088
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.