Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The yellow metal prices consolidated its gains at the expense of the US dollar’s decline, heading to touch the target price station during the last analysis at 1828, recording its highest level at 1828.
Technically, and by looking at the 4-hour chart, we notice the price’s intraday stability above the 1815 support level. We also find the price moving above the simple moving averages that support the bullish price curve.
Therefore, we believe that there is a possibility of resuming the rise. Furthermore, there may be a possibility of maximizing the gains to visit 1831 first target and then 1737 as the next target, considering that confirming the last breach increases the strength of the bullish trend to 1845.
Trading below 1815 postpones the chances of rising, and we witness a bearish slope whose official target is to retest 1800 before any attempts to rise again.
Note: CFD trading involves risks; all scenarios may occur.
| S1: 1817.00 | R1: 1831.00 |
| S2: 1808.00 | R2: 1837.00 |
| S3: 1800.00 | R3: 1845.00 |
