Gold recently reversed up from the support area lying between the key support level 1450.00 (which has been reversing the price from September), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous weekly impulse from 2019.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing.
Gold is expected to rise further toward the next resistance level 1550.00 (former monthly low from February).
- WTI broke daily Triangle - Likely to rise to resistance level 70.90 WTI crude…
- AUDUSD reversed from resistance level 0.6270 - Likely to fall to support level 0.6200…
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
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