Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Gold's breakdown: what's next?
Information is not investment advice
4H Chart
Daily Chart
Gold prices tumbled on Friday and at beginning of the Asian session today, reaching as low as $1854/Oz, breaking through its upside channel on the daily chart, while the technical indicators are now clearly bearish, which confirms our short-term retracement outlook mentioned before since gold was trading above $1910. In the meantime, the key support for this week stands at $1840 which represents the 200-day MA, where gold is likely to show some stabilization, while we maintain our medium-term long positions that were issued back in April at $1710 and $1725 unchanged with a Stop Loss at $1730/Oz for now.
|
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
|
1828.00 |
1856.53 |
1867.03 |
1885.06 |
1895.56 |
1913.59 |
1942.12 |
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
The CAD vs. the World: Mid-Term Scenarios for the Currency
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
Fed Keeps Pushing USD to 2000s Highs
The US dollar index has all chances of reaching the 2000s high of 120.00.
Gold isn't saving investors from inflation
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?
Choose your payment system
