Kuala Lumpur 5:30 p.m. (GMT+8) - In the early European market, spot gold prices has been rising persistently to the level around $1,910 per ounce.
On the gold price movement today, Swissquote Bank wrote a brief analysis as follows:
![[Where Did You Gold?] Gold Just Sprinted to $1,910, Long or Short?](https://socialstatic.fmpstatic.com/social/202010/ff96fee425814f3eba6a9d3d21ee7183.png?x-oss-process=image/quality,q_70/format,jpeg)
Illustration photo of Gold H4 Chart from Investing.com
If the gold price breaks through the resistance level of $1,910 per ounce, it will continue on a bullish momentum with the next targets set at $1,914 and $1,920 per ounce.
On the other hand, if the gold price falls below the $1,910 per ounce level, this will drag the gold price further to the first target level of $1,899 and the next will be $1,894 per ounce.
Rationale : RSI indicator touched the level of 50.
As a conclusion, $1,894.00 and $1,920 per ounce will constitute the short-term support and resistance to the gold prices, respectively.
Translated and processed from the main article: https://www.24k99.com/2010/432...
Telah diedit 23 Oct 2020, 18:37
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