The gold price appreciated 0.90% since Monday’s session. During the previous trading session, the yellow metal broke the monthly R2 at the 1,227.33 mark to stop the trade at the 1,225.89 mark. During Tuesday’s morning hours, the gold was trading at the 1.228.61 mark.
In regards to the near-term future, most likely, the gold will trade sideways to stay at the 1,230.00 level due to the resistance of the monthly R2 at the 1,227.33 level. The 55-hour SMA will try to catch up the rate during the trading session.
Besides, none of the technical indicators may change the yellow metal’s trading direction on Tuesday.
