Vea también
17.10.2024 10:09 AMGold prices have managed to break through the strong resistance level of 2672.85, where they had been consolidating since the end of September. Neither historically high prices nor strengthening the U.S. dollar could hold them back. The main reason for sustained demand for the yellow metal continues to be high geopolitical risks in the Middle East and Europe and the evident weakening of U.S. hegemony and, consequently, the dollar globally. Against this backdrop, central banks continue buying physical gold, driving prices upward.
It is pretty likely that after breaking through the 2672.85 level, the price will correct towards it, consolidate, and resume growth soon.
Technical Outlook and Trade Idea:
The price is above the middle line of the Bollinger Bands, above the SMA 5 and SMA 14. The RSI is turning downward from the overbought zone, while Stochastics are still rising.
A possible corrective pullback to the 2672.85 level could be seen by the markets as a signal for new buying opportunities. In this scenario, prices could rise toward 2700.00.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
