During the Asian trading session, the price of gold continued its bearish withdrawal from $ 1,848 to $ 1,842. We are now very close to the $ 1840 support zone. The dollar index began to strengthen again, which was immediately reflected in the price of gold. If the dollar continues to strengthen, the price of gold could slip below 1840 dollars and continue to fall. Potential lower support targets could be $ 1830, $ 1820 and $ 1810. For the bullish option, we need a new positive consolidation and a return to the price above 1850 dollars. If the price manages to stabilize above 1850 dollars, it could then continue towards the next target at 1860 dollars. We can expect greater resistance at the $ 1,870 level because we have stopped there several times in previous bullish attacks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.