Gold Trend 29/07
Carried the buying momentum from the day before, gold continued to climb yesterday. After the market opened at 1733, the price had already jumped beyond 1735 early in the Asian session. It broke out from 1740 in the European session and kept climbing higher in the US session. The day ended near the day-high at 1756.
Gold has surged along the uptrend channel(2) on the 1-hour chart. Sign of the current climb slowing down has yet to appear; the next upside target can be set at around 1765.
The buying was strong yesterday on the daily chart where the day ended near the day-high. The trend is still bullish, and the upside target remains at 1780.
S-T Resistances:
1765
1760
1757
Market price: 1755
S-T Supports:
1750
1740
1735
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P. To
Gold has surged along the uptrend channel(2) on the 1-hour chart. Sign of the current climb slowing down has yet to appear; the next upside target can be set at around 1765.
The buying was strong yesterday on the daily chart where the day ended near the day-high. The trend is still bullish, and the upside target remains at 1780.
S-T Resistances:
1765
1760
1757
Market price: 1755
S-T Supports:
1750
1740
1735
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
P. To @ 1uptick Analytics
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