As observed on the daily chart, Gold price confirmed an upside break from a month-long symmetrical triangle formation after closing convincingly above the falling trendline resistance at $2,036 on Wednesday.
The 14-day Relative Strength Index (RSI) indicator points north above the midline, suggesting that there is enough room for the upside.
Traders have paid little attention to the Bear Cross validated on Tuesday after the 21-day Simple Moving Average (SMA) crossed the 50-day SMA from above on a daily closing.
With the bullish bias likely intact in Gold price, the immediate strong resistance is seen at the previous day’s high of $2,056, above which the December 12 high of 2,062 wil be tested. Further up, the $2,070 round figure could challenge bearish commitments.
Xauusd buy now 2038 limit trade 2034
Confirm Target 2055
Always follow the trend
The 14-day Relative Strength Index (RSI) indicator points north above the midline, suggesting that there is enough room for the upside.
Traders have paid little attention to the Bear Cross validated on Tuesday after the 21-day Simple Moving Average (SMA) crossed the 50-day SMA from above on a daily closing.
With the bullish bias likely intact in Gold price, the immediate strong resistance is seen at the previous day’s high of $2,056, above which the December 12 high of 2,062 wil be tested. Further up, the $2,070 round figure could challenge bearish commitments.
Xauusd buy now 2038 limit trade 2034
Confirm Target 2055
Always follow the trend
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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.