What is gold showing?
Hello smart traders!
Today, on the 1-hour time frame, gold has formed a price gap at a high of $1842 during today's trading session. Gold has coincidentally broken down below, leading to a decrease in the Dow. Overall, gold may retest a support level and continue its upward trend.
Gold has been oversold from a technical standpoint and seems to be stabilizing around the 1820/ounce level. The US dollar and silver bond yields appear to be pausing after a strong rally. This could potentially be the driving force to continue pushing gold higher.
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Today, on the 1-hour time frame, gold has formed a price gap at a high of $1842 during today's trading session. Gold has coincidentally broken down below, leading to a decrease in the Dow. Overall, gold may retest a support level and continue its upward trend.
Gold has been oversold from a technical standpoint and seems to be stabilizing around the 1820/ounce level. The US dollar and silver bond yields appear to be pausing after a strong rally. This could potentially be the driving force to continue pushing gold higher.
If you find this article helpful, please leave a like and follow to receive new updates.
Note
increased 25.3 USD to 1860.9 USD/ounce. Currently trading at 1864 USD
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.