Gold Unwilling To Give Up 1900 Floor

0 68

The precious metal is also feeling the brunt of a stronger US dollar.

While price action accelerated to the downside on Tuesday, we see a rebound just close to the 1900 region where support has held up so far.

Still, the lower highs forming casts a bearish outlook for the precious metal.

In the short term, we could see some rebound that could keep prices buoyed to the upside.

But the resistance level near 1967 is unlikely to give up either.

As a result, the precious metal could continue its ranging price action within the said levels for the short term.

Test your strategy on how gold will fare with Orbex - Open your account now. 

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.