Hello traders!
Today, Gold continues to maintain its positive trend with trading prices around $1936, after receiving a series of good news from the market yesterday.
Looking at the technical picture on the 1-hour time frame, we can see that Gold is staying within an upward channel. However, it is currently consolidating around the highest level, so sellers will likely push the price of Gold down in the near future, testing the $1915 level. This upward trend is expected to continue with a projected increase to $1915.
Today, Gold continues to maintain its positive trend with trading prices around $1936, after receiving a series of good news from the market yesterday.
Looking at the technical picture on the 1-hour time frame, we can see that Gold is staying within an upward channel. However, it is currently consolidating around the highest level, so sellers will likely push the price of Gold down in the near future, testing the $1915 level. This upward trend is expected to continue with a projected increase to $1915.
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The strong demand from India can promote the rise of gold.
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