Hello dear friends, In the opening session of the new week, gold has remained relatively stable with a slight decrease of $2 as of the time of writing.
On the 1D chart, we can observe that gold is forming a downward trendline, with the current support level at $1940 and within the range of the 34 EMA and 89 EMA. An immediate resistance level can be seen at the descending trendline at $1991. Breaking above this level will push the price of gold higher towards $2000.
On the 1D chart, we can observe that gold is forming a downward trendline, with the current support level at $1940 and within the range of the 34 EMA and 89 EMA. An immediate resistance level can be seen at the descending trendline at $1991. Breaking above this level will push the price of gold higher towards $2000.
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