Gold drops to 2000 USD?
Hello everyone, it's great to meet you all again for today's discussion on the price of gold!!
Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030.
Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980.
As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030.
Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980.
As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
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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.