Hi all,
GOLD has been experiencing massive movements for the past couple of weeks, of course due to the current events and risk that's evident in our world today with the virus and what not. To make things simple, I've incorporated the 200MA in my charts to see where we could have a good resistance/support level before we analyse further.
Not surprisingly, we're currently close to the support (200MA) on the Daily, which could mean that the price my just recover from the past drops - perhaps to meet its 20MA back again, or close to the 20MA.
I shall forecast this to be a move up going forward, with the levels of 1547 & 1576 as the realistic levels for target on the Long side.
Good luck and stay safe.
Regards.
GOLD has been experiencing massive movements for the past couple of weeks, of course due to the current events and risk that's evident in our world today with the virus and what not. To make things simple, I've incorporated the 200MA in my charts to see where we could have a good resistance/support level before we analyse further.
Not surprisingly, we're currently close to the support (200MA) on the Daily, which could mean that the price my just recover from the past drops - perhaps to meet its 20MA back again, or close to the 20MA.
I shall forecast this to be a move up going forward, with the levels of 1547 & 1576 as the realistic levels for target on the Long side.
Good luck and stay safe.
Regards.