GOLD: Resistence or Support Line!
Hello everyone! Today i want to share some macro analysis with you!
1.
$Gold - main 2502(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ TECHNICAL: Gold prices provided a clear buying trade yesterday, reaching the $2725 area, reinforcing the expectation of a continuation of the bullish trend in the upcoming trade, reminding you that the target we are waiting for is located at $2,745, a break of which is the key towards the recently recorded all-time high of $2,790.
At the same time, considering that a break below $2,670 would stop the bullish wave and push the price to turn down, the stochastic indicator is still negative, which would hamper the task of bouncing back towards the awaited target.
Today's trading range is expected to be between the $2,690 support level and the $2,730 resistance level.
Trend forecast: Bullish
Buy：2698-2705 TP:2725-28 SL:2690
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