Gold Trying Positively And Looking For New Catalysts

Mixed trading dominated gold prices during the previous session’s trading, and trading is still limited from the bottom above 1894 and from the top below 1910. On the technical side today, the price stability above 1894 supports the continuation of the rise, in addition to the positive signals coming from the relative strength index.

On the other hand, the negative features that started to appear on the stochastic indicator, accompanied by the stability of trading below the 1916 resistance level, are technical factors that increase the chances of a decline.

Therefore, we find it confused in determining the next trend, and we stand aside to be in front of one of the following scenarios: Confirmation of breaking 1895 puts the price under strong negative pressure, its initial target is 1887, while its official target is around 1880.

Skipping upwards and rising above 1916 increases the chances of resuming the ascent towards 1925 and 1928, respectively.

Note: The risk level is still high.

S1: 1895.00	R1: 1910.00
S2: 1887.00	R2: 1917.00
S3: 1880.00	R3: 1925.00