Gold Price Inches Higher
Gold Price Inches Higher
Gold price is rising and trading above the $ 2030 resistance.
Important Takeaways for Gold
Gold price started a fresh increase above the $ 2020 resistance against the US Dollar.
A key bullish trend line is forming with support near $ 2030 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of gold at FXOpen, the price formed a base above the $ 1990 support zone against the US Dollar. The price started a decent increase and was able to clear the $ 2000 resistance zone.
The upward move gained pace above the $ 2020 and $ 2030 resistance levels. Finally, the bears appeared near $ 2050. A high is formed at $ 2048, and the price is now consolidating gains.
Initial support on the downside is near the 23.6% Fib retracement level of the recent increase from the $ 2001 swing low to the $ 2048 high. The first major support is forming near a key bullish trend line at $ 2030.
If there is a downside break below the trend line, the price might slide toward the 50-hour simple moving average at $ 2025. The next major support is near the 61.8% Fib retracement level of the recent increase from the $ 2001 swing low to the $ 2048 high at $ 2020.
On the upside, the bulls are facing resistance near $ 2048. An upside break above the $ 2048 resistance could send the price toward $ 2060. Any more gains may perhaps set the pace for an increase toward the $ 2080 level.
Gold price is rising and trading above the $ 2030 resistance.
Important Takeaways for Gold
Gold price started a fresh increase above the $ 2020 resistance against the US Dollar.
A key bullish trend line is forming with support near $ 2030 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the hourly chart of gold at FXOpen, the price formed a base above the $ 1990 support zone against the US Dollar. The price started a decent increase and was able to clear the $ 2000 resistance zone.
The upward move gained pace above the $ 2020 and $ 2030 resistance levels. Finally, the bears appeared near $ 2050. A high is formed at $ 2048, and the price is now consolidating gains.
Initial support on the downside is near the 23.6% Fib retracement level of the recent increase from the $ 2001 swing low to the $ 2048 high. The first major support is forming near a key bullish trend line at $ 2030.
If there is a downside break below the trend line, the price might slide toward the 50-hour simple moving average at $ 2025. The next major support is near the 61.8% Fib retracement level of the recent increase from the $ 2001 swing low to the $ 2048 high at $ 2020.
On the upside, the bulls are facing resistance near $ 2048. An upside break above the $ 2048 resistance could send the price toward $ 2060. Any more gains may perhaps set the pace for an increase toward the $ 2080 level.
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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.
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.