Gold prices are still within the 1.5-month highs and are held above $1,500.
The price went up sharply before the Christmas holidays. The price growth was not associated with any fundamental factors. The main reason for this sharp increase is the low volume of pre-holiday trading, due to which the bulls were able to raise the price above the $ 1,500 mark.
There are no important geopolitical and economic news on the market today, so markets should be generally calm. Nonetheless, the trading volume remains low, so sharp price movements in one direction or another are still possible.
Regarding the chart, the price approached a very strong resistance level of 1515.00. Even in a low-liquidity market, bulls will most likely not be able to break this mark. Therefore, today we are mainly considering a scenario with the development of corrective movement towards the region of 1504.00.
Resistance Levels: 1515.00, 1530.00, 1555.00;
Support Levels: 1504.00, 1490.00, 1475.00.
The main scenario - a decline towards 1504.00.
An alternative scenario - a consolidation above 1515.00 and medium-term growth towards the level of 1530.00.
The fundamental outlook is neutral. The price has reached a strong resistance level of 1515.00. Within the daily framework, we give priority to shorts.
+$500 FOR TRADING Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive […]
We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]