Gold Rebounds
After Donald Trump's victory in the U.S. presidential election, gold prices dropped by more than $80 per ounce on November 5th in both Asian and U.S. markets. However, mixed economic data from the U.S., Germany, and China, combined with the Federal Reserve's decision to cut interest rates, helped gold prices rebound to $2,700 per ounce.
Looking at the technical chart at 4:00 PM, with support at $2,650, gold prices have started to rise again and are testing the resistance level at $2,707. If gold breaks through this resistance, it is expected to regain momentum and continue to rise towards a new target. However, if gold fails to break through the resistance, it could fall back to the support level of $2,683.
During this time, make sure to closely monitor the market to respond promptly to any unexpected developments!
Looking at the technical chart at 4:00 PM, with support at $2,650, gold prices have started to rise again and are testing the resistance level at $2,707. If gold breaks through this resistance, it is expected to regain momentum and continue to rise towards a new target. However, if gold fails to break through the resistance, it could fall back to the support level of $2,683.
During this time, make sure to closely monitor the market to respond promptly to any unexpected developments!
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