Favorite tensions for gold
By: Ahura Chalki
US government in its latest try made another excuse for gold to raise up more. Mexico Tariffs, after the US-China trade war, made investors worry about new laws and tariffs and seems Gold again became wealth accumulation. This movement mostly looks like a hurry reaction of the market and investors by opening the Asian season in the very first day of this trading week, have to wait and see what will be the market reaction in EU and US seasons.
Technically, crossing Key level of $1307 opened the doors for the next step of $1322. While in the H1 chart RSI and Stochastic both are moving in the overbought area, in H4 chart, Stochastic still remains of more bull.
Pivot point: 1301.22
Resistance levels: 1314.51 / 1320.06
Support levels: 1295.68 / 1282.40
The expected trading range for today is between 1295.68 support and 1320.06 resistance.
The analyses here are just an Idea and no investment consulting. Invest in the Financial market has a high level of risk. In case if you are looking for a personal investment consultant, can contact us.