trade plans for gold
"After breaking through the $1,900 support level in the latter half of the year, gold accelerated its descent, reaching an ideal correction level at approximately $1,810, as per the Fibonacci 0.618 retracement.
In tandem with the rise in risk perception leading to increased demand for commodities, the gold market witnessed a gap-up opening. The price per ounce of gold commenced the week with a 1% gain, hovering around the $1,850 mark. Should this demand persist, the $1,870 range will emerge as the initial resistance zone, followed by the critical juncture at the $1,900 mark, which will determine the trend for gold."
In tandem with the rise in risk perception leading to increased demand for commodities, the gold market witnessed a gap-up opening. The price per ounce of gold commenced the week with a 1% gain, hovering around the $1,850 mark. Should this demand persist, the $1,870 range will emerge as the initial resistance zone, followed by the critical juncture at the $1,900 mark, which will determine the trend for gold."
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