If this level is broken the next level of support would be $1,067. If the bulls take a hold of the situation the precious metal would try to break the resistance at $1,090, then the psychological $1,100.
Chart: H1 XAUUSD
Friday, July 31, 2015
Gold in a Range
For the past week Gold has been trading in the range between $1,080 (Weekly low) and $1,104.98 (Weekly high). Current Gold price is near the weekly bottom and the yellow metal is now trading at $1,081/oz. Not much has happened that can stir the market and Gold lost some of its shine, due to low volumes and a lack of liquidity, but it is still keeping a steady position near the support of $1,080.
If this level is broken the next level of support would be $1,067. If the bulls take a hold of the situation the precious metal would try to break the resistance at $1,090, then the psychological $1,100.
Chart: H1 XAUUSD
If this level is broken the next level of support would be $1,067. If the bulls take a hold of the situation the precious metal would try to break the resistance at $1,090, then the psychological $1,100.
Chart: H1 XAUUSD
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Still consolidating trying to find its way.
ReplyDeleteExcellent analysis, you hit the essence.
ReplyDeleteHopefully the range will end next week.
ReplyDeleteInformative analysis, thanks!
ReplyDeleteInteresting alysis,thank you.
ReplyDeleteGreat post.
ReplyDeleteIt may try to continue falling.
ReplyDelete