Gold price is now trying to break a strong resistance

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@momins5 months ago
1 min read

gold.PNG The current price of gold is $1824 as I write this post. It is standing at a strong resistance level. If gold crosses this resistance level, its price may go higher. Gold is now trying hard to break this $1824 resistance level.

Forex traders are opening a sell trade here because there is a sell signal. Gold may retest this resistance level and move lower. It is expected that the price of gold will move down towards the resistance like the red arrow and if this level is broken then the gold price move resistance can be like the red arrow shown above, and the resistance level will then convert to the support level.


If we look at the usd index then we will notice that the dollar index is going down since last thus day. thus day us dollar index value was 104.52 which is currently at 103.49 which is also lower today. If it decreases like this, it is expected that the price of gold will increase further

Trade wisely, don't invest on other people's words. Understand trading before investing and trade because it is risky. By sharing trading information, we are only sharing market conditions with each other

Best regards

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