What is gold showing?
Hello smart traders!
Today, on the 1-hour time frame, gold has formed a price gap at a high of $1842 during today's trading session. Gold has coincidentally broken down below, leading to a decrease in the Dow. Overall, gold may retest a support level and continue its upward trend.
Gold has been oversold from a technical standpoint and seems to be stabilizing around the 1820/ounce level. The US dollar and silver bond yields appear to be pausing after a strong rally. This could potentially be the driving force to continue pushing gold higher.
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Today, on the 1-hour time frame, gold has formed a price gap at a high of $1842 during today's trading session. Gold has coincidentally broken down below, leading to a decrease in the Dow. Overall, gold may retest a support level and continue its upward trend.
Gold has been oversold from a technical standpoint and seems to be stabilizing around the 1820/ounce level. The US dollar and silver bond yields appear to be pausing after a strong rally. This could potentially be the driving force to continue pushing gold higher.
If you find this article helpful, please leave a like and follow to receive new updates.
Note
increased 25.3 USD to 1860.9 USD/ounce. Currently trading at 1864 USD
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.