flag-gb flag-my flag-zh flag-id flag-th flag-vi

Gold prices remain above $1,500 per ounce

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.

Latest news

DEPOSIT BONUS 200%: PROLONGED TILL 04 JANUARY 2021!

2020-12-04 08:57:41

Only from November 02nd, 2020, to January 04th, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

No Deposit Bonus 100 USD – available for 3 days only!

2020-11-23 08:44:40

Only from 23 to 25 of November, the largest no deposit bonus 100 USD is available for all Forex traders! πŸ† Bonus details: 100 USD maximum withdrawal 75 lots of required trading turnover 2 weeks to try all of the trading conditions Available for cent accounts πŸ“ How to get the bonus: 1) Register an […]