GOLD MARKET Analysis
After Powell's speech on Friday and his comments on interest rates, gold was welcomed by buyers and moved towards its previous ceiling. On Monday, the market continued to buy gold again and raised the price to 2527. Currently, the price is close to its historical ceiling.
By carefully examining the chart, we can see that the price entered the resting phase in the form of a correction triangle in an ascending channel after an ascending rally, and then broke this area upwards with a powerful candle, and on returning to it, pulled back and faced the demand again. .
Currently, gold is more inclined to rise. And buying in the support areas will be a good option. The target of this upward wave can be in the area of 2555 and 2570 dollars.
By carefully examining the chart, we can see that the price entered the resting phase in the form of a correction triangle in an ascending channel after an ascending rally, and then broke this area upwards with a powerful candle, and on returning to it, pulled back and faced the demand again. .
Currently, gold is more inclined to rise. And buying in the support areas will be a good option. The target of this upward wave can be in the area of 2555 and 2570 dollars.
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