- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD bulls to take a breather before targeting $1,900
Gold Price Forecast: XAU/USD bulls to take a breather before targeting $1,900
Gold price is consolidating the two-day uptrend near the highest level in eight months at $1,880. XAU/USD could take a breather before recapturing $1,900, FXStreet’s Dhwani Mehta reports.
A retreat toward the $1,865 support could be in the offing
“Gold has paused its advance, as the Relative Strength Index (RSI) is flirting with the overbought territory, warranting caution for bulls.”
“Recapturing the multi-month high at $1,880 is critical to targeting $1,900 once again. Daily closing above the latter is needed to extend the bullish reversal.”
“If Gold sellers take out support at $1,865, then a fresh drop toward the bullish 21-Simple Moving Average (SMA) at $1,853 cannot be ruled out.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
