Dear beloved friends, Currently, gold is maintaining a stable trading level around $2,032 over the past half day. So, what is the next trend for this precious metal?
Gold experienced significant volatility yesterday, with a strong surge of nearly $60. The price has now completely ended the previous downward trend and has started moving sideways on the 1-hour chart. The immediate resistance level that needs to be broken is $2,037 if the buying side wants to continue pushing the price higher.
On the other hand, the price could still undergo a slight correction towards the 0.618 Fibonacci retracement level, which is around $2,015, after breaking out of the box to consolidate the upward momentum!
What about you? Do you think gold can continue to rise in price or not?
Gold experienced significant volatility yesterday, with a strong surge of nearly $60. The price has now completely ended the previous downward trend and has started moving sideways on the 1-hour chart. The immediate resistance level that needs to be broken is $2,037 if the buying side wants to continue pushing the price higher.
On the other hand, the price could still undergo a slight correction towards the 0.618 Fibonacci retracement level, which is around $2,015, after breaking out of the box to consolidate the upward momentum!
What about you? Do you think gold can continue to rise in price or not?
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