Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices managed to touch the official target required to be achieved during the previous report, located at 1823, recording its highest level during the last trading session of 1823.
Technically, it managed to establish a good support floor around the psychological barrier of 1800, and it also succeeded in intraday stability above the 1800 level, accompanied by the continuation of the price getting a positive stimulus from the simple moving averages, in addition to the RSI support for the bullish trend.
The bullish bias may be the most preferred. The following targets may be 1828, an initial station that may extend later to visit 1836, the area of selling positions, as long as the price is stable above 1805, most notably 1800.
Declining below the 1797 buying position can negate the continuation of the bullish attempts and lead gold to negativity with an initial target of 1777.
Note: CFD trading involves risks; all scenarios may occur.
| S1: 1805.00 | R1: 1828.00 |
| S2: 1791.00 | R2: 1837.00 |
| S3: 1782.00 | R3: 1851.00 |
