Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Make Money Online
Forex
Daily Market Analysis By FXOpen
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="FXOpen Trader, post: 344042, member: 104606"] [B][SIZE=5]Market Analysis: Gold Price Hits New High While Crude Oil Price Consolidates[/SIZE][/B] [img]https://i.imgur.com/UKRt5xd.jpeg[/img] [I]Gold price surged toward the $2,400 zone and traded to a new all-time high. Crude oil is attempting a fresh increase above the $85.00 zone.[/I] [B]Important Takeaways for Gold and Oil Prices Analysis Today[/B] [LIST] [*] Gold price started a strong increase above the $2,350 zone against the US Dollar. [*] It broke a key bearish trend line with resistance at $2,345 on the hourly chart of gold at FXOpen. [*] Crude oil is consolidating above the $84.00 support. [*] There is a connecting bearish trend line forming with resistance near $85.60 on the hourly chart of XTI/USD at FXOpen. [/LIST] [B][SIZE=5]Gold Price Technical Analysis[/SIZE][/B] [img]https://i.imgur.com/ezTCbUX.jpeg[/img] On the hourly chart of Gold at FXOpen, the price formed support near the $2,300 zone. The price remained in a bullish zone and started a strong increase above $2,320. It broke a key bearish trend line with resistance at $2,345. The bulls even pushed the price above the $2,350 level and the 50-hour simple moving average. Finally, it traded to a new all-time high at $2,395. The price is now consolidating gains near the $2,385 zone and the RSI corrected from 80. Initial support on the downside is near the 23.6% Fib retracement level of the upward move from the $2,319 swing low to the $2,395 high at $2,378. The first major support is near the $2,350 zone and the 50-hour simple moving average. It is close to the 61.8% Fib retracement level of the upward move from the $2,319 swing low to the $2,395 high. If there is a downside break below the $2,350 support, the price might decline further. In the stated case, the price might drop toward the $2,325 support. Immediate resistance is near the $2,395 level. The next major resistance is near the $2,400 level. An upside break above the $2,400 resistance could send Gold price toward $2,420. Any more gains may perhaps set the pace for an increase toward the $2,440 level. [B][URL="https://fxopen.com/blog/en/aj-market-analysis-gold-price-hits-new-high-while-crude-oil-price-consolidates/?utm_source=trendriforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Make Money Online
Forex
Daily Market Analysis By FXOpen
Top