GOLD 27/06: Gold compressed waiting for tonight

Jun 27, 2023

GOLD Gold price is auctioning in a Symmetrical Triangle chart pattern on an hourly scale, which indicates a decline in volatility but is followed by an explosion in the same. Horizontal support is plotted from the previous week’s low at 1,910$.

A straight 50-period Exponential Moving Average (EMA) at 1,928$ portrays a non-directional performance.

The Relative Strength Index (RSI) (14) is oscillating in the 40.00-60.00 range, which indicates that investors await a potential trigger.

I look forward to the news that CB tonight will support GOLD to the 1940$ zone. And I will sell GOLD around the 1938$-1940$ zone. My level of expectation GOLD will return to 1930$

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Jun 27, 2023

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