Gold Trend Analysis over H1 Chart
On Friday, Gold retested the resistance level of $ 1815 and then fell down as the concerns over the omicron coronavirus strain eased, boosting risk appetite even as the World Health Organization urged caution. Two South African health experts suggested the variant is presenting with mild symptoms so far. But the WHO said Sunday it would take time to assess the severity of the new strain.
From the lower support levels of 1780 gold bounced back again while considering the impact of the possibly vaccine-resistant omicron COVID-19 variant giving the safe-haven yellow metal a boost.
As of now gold is consolidating between the range of 1790-1795, and If it manages to sustain above the levels of 1795, it can test levels of 1807,1815 and 1832, On the other end if it breaks the support level of 1790, then it can test the support levels of 1784, 1778 & 1760 as well.
From the lower support levels of 1780 gold bounced back again while considering the impact of the possibly vaccine-resistant omicron COVID-19 variant giving the safe-haven yellow metal a boost.
As of now gold is consolidating between the range of 1790-1795, and If it manages to sustain above the levels of 1795, it can test levels of 1807,1815 and 1832, On the other end if it breaks the support level of 1790, then it can test the support levels of 1784, 1778 & 1760 as well.
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