Noor Trends News, Technical Analysis, Educational Tools and Recommendations
As we expected, the yellow metal prices jumped during the previous trading session, touching the second official target station at 1830, recording the highest of 1830.
On the technical side, Looking at the 240-minute chart, we find the positive motive coming from the simple moving averages, which increases the possibility of continuing the rise and the continuation of gold getting positive signs from the RSI.
Therefore, the chances of the rise are valid and effective, knowing that the confirmation of the breach of 1830 opens the way towards 1835 first target and then 1844 initial stations.
To remind you that trading below 1800/1797 areas can thwart the attempts to rise, and the bearish bias returns to control the gold’s movements with the aim of 1785 and 1777, respectively.
| S1: 1810.00 | R1: 1835.00 |
| S2: 1797.00 | R2: 1844.00 |
| S3: 1785.00 | R3: 1860.00 |
