Good news, Gold rose above $1900

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avatar of @momins
@momins5 months ago
1 min read

The price of gold rose again and exceeded $1900.... U.S. The Dollar Index (DXY) fell to 102.46. I definitely think this move is for this reason. Gold has crossed $1900 above which is very good news and currently stands at $1895. The box plot on the chart shows the gold price move from the s1 support which is around $35.

Yesterday I published a gold analysis, which you can read by clicking here. As I said there gold could retest the S1 support level at $1865 and it did. Gold price retested the support level to reach $1900. Since the S1 support level is effective, if the price of gold breaks down again and reaches this level, it seems to retest and go higher from there and that is what we expect.

If the market somehow crosses the S1 support level, the GOLD price can retest from the S2 support level which is located at $1824 as shown by the red arrow on the chart. As each support level is working very well, we are keeping a close eye on this support level as well. I will share all the market updates with you, whatever happens next. The gold bull run is very nice and logical. So it attracts me more. Everyone be careful and risk-free and do the analysis yourself

Best regards

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