Could Gold Continue Its Rally Today?
Yesterday, spot gold in the US session initially declined to the $1924 level but later stabilized and witnessed a strong rebound. The market experienced a breakthrough and touched the $1950 mark, ultimately closing at a strong $1960. The daily candle indicated a bottoming out and a subsequent upward movement. Although there was a temporary dip below the $1930 mark, it proved to be a false break as the price rebounded.
Today, it is anticipated that the upward momentum could continue, with a particular focus on the support level around $1952, which was the second lowest point on an hourly basis yesterday. If the market retraces, it is expected to find support at this level, potentially leading to further gains. The overall analysis indicates a positive outlook with the potential for continued upside continuation.
Today, it is anticipated that the upward momentum could continue, with a particular focus on the support level around $1952, which was the second lowest point on an hourly basis yesterday. If the market retraces, it is expected to find support at this level, potentially leading to further gains. The overall analysis indicates a positive outlook with the potential for continued upside continuation.
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