The price of gold is hovering around the $2000 barrier per ounce, and continues to move within the ascending channel that appears in the chart, which supports the chances of continuing the upward trend and heading towards achieving our next main target, which is located at 2016.
Hence, the upward trend scenario will remain effective, and may be preceded by some temporary sideways fluctuation due to the current negativity of the Stochastic indicator, remembering that exceeding the mentioned target will push the price to 2037 as the next positive target, while stability above 1977 represents an important condition for the continuation of the expected rise.
support 1990 and resistance 2020
Hence, the upward trend scenario will remain effective, and may be preceded by some temporary sideways fluctuation due to the current negativity of the Stochastic indicator, remembering that exceeding the mentioned target will push the price to 2037 as the next positive target, while stability above 1977 represents an important condition for the continuation of the expected rise.
support 1990 and resistance 2020