Prices are moving inside a descending channel and it is near to the bottom line at 1281$, bouncing higher from these levels would send prices to levels of 1294$ then 1300$. Breaking the channel down would be sending prices to 1267$ then 1250$.
Currently prices are facing a strong resistance at 1295$, exceeding this level would send prices higher targeting 1308$ then 1337$. The failure would push gold much lower to levels of 1270$ and 1248$.
By Reuters : Asian stocks bounced on Monday after three straight losing sessions, tracking a firmer Wall Street, while the dollar was capped by tensions on the Korean peninsula and doubts that the Federal Reserve will hike interest rates again this year.
Stocks markets and oil prices plummeted, while bonds and gold markets rallied today, following North Korea's long-range ballistic missile test as well as US markets on hold due to Independence Day celebrations, dampening risk appetite.
Currently prices are testing a resistance at 1255$ (the neck line of inverted head & shoulders),
The British pound fell sharply during the day as David Davis, minister in charge of negotiations with the European Union, arrived in Brussels to start the first days of formal talks for Brexit. The GBPUSD hit its lowest level since June 15 at 1.2723.
Prices are facing a support at an uptrend near to 1266$, staying higher than these
Prices has pulled back after failing to break through resistance at 1295$, we expect to continue
Prices continued rising reaching resistance at 1292$, we expect further rising if it managed to
Prices has reached target of the symmetrical triangle at 1280$, in the way up process will be
Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only
© 2022 Equiti, All Rights Reserved