What is lurking in gold?
Every time XAU/USD has reached the $2,000 range, which is a very important resistance, in the past, after testing this range, it has suffered a sharp drop in value, but today, due to the passage of time and many encounters with this resistance range, it can be He examined the fate of gold a little more closely.
If the United States of America officially participates in the war, gold can grow along with oil due to the increase in conflicts in the Middle East and cross this resistance range, and otherwise even despite the power of the candle.
An increase in this range is expected to decrease towards the support range indicated in the picture, but the loss of this support range is also unlikely for gold. I expect more if it is not able to break the resistance range, the possibility of price range as before in the range channel is also very likely.
But for now, the focus should be on the price reaction to the resistance range
SOS FINANCIAL COMPANY
If the United States of America officially participates in the war, gold can grow along with oil due to the increase in conflicts in the Middle East and cross this resistance range, and otherwise even despite the power of the candle.
An increase in this range is expected to decrease towards the support range indicated in the picture, but the loss of this support range is also unlikely for gold. I expect more if it is not able to break the resistance range, the possibility of price range as before in the range channel is also very likely.
But for now, the focus should be on the price reaction to the resistance range
SOS FINANCIAL COMPANY
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.