Hello everyone! What do you think, where will gold close today?
In this analysis, I'll be focusing on gold's recent recovery. The precious metal recently broke out of its short-term upward trend after surpassing the trendline. Despite this, it has found new momentum and is currently hovering around the psychological level of $2300.
Looking at the 1-hour chart, I’ve observed that gold has rebounded over 140 pips. It seems to be targeting the $2323 level, with the next resistance around $2338.
That's my take. What about you? Do you think gold can reach these targets, or will it pull back again? Let me know your thoughts in the comments!