Forex Trading Library

Gold Recovers From A Three-Day Range

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The precious metal is making some positive gains after prices closed flat for three consecutive sessions.

The dollar weakness is also helping the commodity to post the gains.

Earlier in the week, gold prices were trading close to the 1900 level. But with support firmly established, price action is attempting to rise higher.

For now, the current pace of gains could meet with the dynamic resistance off the trend line.

Only a breakout above the trend line and the 1967 level of resistance will confirm further gains.

If gold prices fail to clear 1967, then we expect a move back to the 1900 level and probably lower.

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