Tue, Jan 31, 2023 @ 23:38 GMT

GOLD Bouncing Back

Gold starts a recovery phase, trading along the 1322 range. The pair is ready for another leg lower, approaching the 1325 range. The pair is contained between hourly support and resistance at 1300 (29/12/2017 low) and 1348 (20/02/2018 high). Expected to show further increase.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1’392 (17/03/2014) is required to confirm it. A major support can be found at 1’045 (05/02/2010 low).

 

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
Trading foreign exchange, spot precious metals and any other product on the Forex platform involves significant risk of loss and may not be suitable for all investors. Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Featured Analysis

Learn Forex Trading