Geopolitical tensions will lead to gold strengthening
Gold is trading in an ascending channel drawn by the Andrews fork. The support level of $2,646 acts as a critical point, and if it holds, there is a possibility of a rise to the resistance level of $2,702.
Technical and fundamental analysis
1- Technical analysis: The price is close to the lower Bollinger band and is likely to return to higher levels.
2- Geopolitical tensions: Increased tensions in the Middle East have increased demand for gold.
3- Weakness of the dollar: The decline in the dollar index and possible Federal Reserve policies have worked in favor of gold.
Conclusion
Holding the $2,646 level is essential for the bullish trend to continue, and any increase in geopolitical tensions could push the price towards $2,702.
Technical and fundamental analysis
1- Technical analysis: The price is close to the lower Bollinger band and is likely to return to higher levels.
2- Geopolitical tensions: Increased tensions in the Middle East have increased demand for gold.
3- Weakness of the dollar: The decline in the dollar index and possible Federal Reserve policies have worked in favor of gold.
Conclusion
Holding the $2,646 level is essential for the bullish trend to continue, and any increase in geopolitical tensions could push the price towards $2,702.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.