The price of gold opens today's trading with a strong rise to reach the expected target at 1952, and the way appears open to exceeding this level and achieving additional gains up to 1961 in the near term.
Therefore, the upward trend scenario will remain likely for the coming period, supported by the 50 moving average, which continues to carry the price from below, taking into account that failure to breach 1940 will put pressure on the price to bounce downwards and head to test the 1932 areas again.
Pivot Price:1940
Resistance Price: 1952 & 1961 & 1972
support price: 1932 & 1923 & 1913
timeframe: 4H
Therefore, the upward trend scenario will remain likely for the coming period, supported by the 50 moving average, which continues to carry the price from below, taking into account that failure to breach 1940 will put pressure on the price to bounce downwards and head to test the 1932 areas again.
Pivot Price:1940
Resistance Price: 1952 & 1961 & 1972
support price: 1932 & 1923 & 1913
timeframe: 4H
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