Gold drops to 2000 USD?
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Hello everyone, it's great to meet you all again for today's discussion on the price of gold!!
Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030.
Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980.
As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
Currently, the price of gold is trading around $2028, which is a decrease as expected from yesterday's session after a correction and a breakthrough below the previous support level of $2030.
Regarding today's outlook: Gold continues to lean towards a downward trend as the technical signals of the EMA 34 and 89 remain above the price range. The current support level is $2016, as long as gold does not break out from here, the price will further decline to around $2000, with a consideration of $1980.
As long as gold continues to stay below the resistance level of $2050, the path downwards remains wide open.
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