Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Gold has slumped, now in correction
Information is not investment advice
During Thursday, gold has dropped to the level of 1465.00, unseen for more than a month. On the H4 chart of XAU/USD, we see it is just one step away from the strong support level of 1462.00. The main factor driving the depreciation of the precious metal is better prospects of the global economic outlook. The China-US trade deal is nearing, and the two countries agreed to roll back tariffs mutually. Consequently, gold has suffered due to a potential drop in demand because of clearer global economic perspectives. The bears would use this as an excellent opportunity. However, Thursday evening and today morning show correction in the price. At the same time, the RSI indicator is inching into the oversold level of 30% bottom-up. So watch out – there may be an interesting opportunity for the bulls, with the closest resistance levels of 1484.14, 1491.74 and 1495.87 on their way.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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