What is special about gold price this week?
Updated
Hello dear friends. As predicted by Karina earlier, as soon as the gold trading session began, it immediately turned around and declined to the level of 1975 USD.
Karina had previously mentioned that after breaking out of the trend channel, gold is likely to return to test the previous breakout area to confirm the official uptrend. Additionally, the price is moving away from the EMA, so it needs to return to that previous area. Therefore, it is normal to see gold rising and then suddenly decreasing in price.
Currently, gold is facing resistance at the level of 1980 and based on this possibility, the downward momentum may target support at 1845 USD. After that, the upward trend will officially resume and be established.
Karina had previously mentioned that after breaking out of the trend channel, gold is likely to return to test the previous breakout area to confirm the official uptrend. Additionally, the price is moving away from the EMA, so it needs to return to that previous area. Therefore, it is normal to see gold rising and then suddenly decreasing in price.
Currently, gold is facing resistance at the level of 1980 and based on this possibility, the downward momentum may target support at 1845 USD. After that, the upward trend will officially resume and be established.
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