gold market analysis Hit Full Target $1720 Next Target $1697 – Neal Bhai Reports
Read More : Gold Technical Price Outlook – Below $1767 Target $1720——$1697, Sell on Rise – Neal Bhai
Read More : Gold Technical Price Outlook – Below $1767 Target $1720——$1697, Sell on Rise – Neal Bhai
Gold prices were little changed on Wednesday, with markets awaiting a speech by Federal Reserve Chairman Jerome Powell for more signals on the US interest rate trajectory after dismal economic data.
Gold Technical Analysis – Gold prices surged higher rising 0.8% and closing at a seven-year high. The next level of target resistance is the April high at $1,747. After that level, gold could rally to $1,927 level. A break of this 2011 level would lift gold into blue sky territory.
An inverse head and shoulders pattern forms when an asset makes a low, a lower low, and a higher low – it implies a bottoming and change in trend direction.
Spot Gold resumes its bulltrend as expected and strategists at Credit-Suisse continue to lookfor eventual new life time record highs.