The price of gold clears the May high ($2450) to set a fresh record high ($2484).
Gold Price Outlook
The price of gold extends the rally from earlier this to push the Relative Strength Index (RSI) towards overbought territory, with a move above 70 in the oscillator likely to be accompanied by a further advance in bullion like the price action from earlier this year.
A break/close above $2501 (50% Fibonacci extension) opens up $2554 (61.8% Fibonacci extension) with the next area of interest coming in around $2592 (100% Fibonacci extension).
Nevertheless, the bullish price action may unravel if bullion struggles to hold above $2448 (38.2% Fibonacci extension), with a move below the $2363 (161.8% Fibonacci extension) to $2396 (78.6% Fibonacci extension) region bringing the monthly low ($2319) on the radar.
--- Written by David Song, Strategist at FOREX.com
Gold Price Outlook
The price of gold extends the rally from earlier this to push the Relative Strength Index (RSI) towards overbought territory, with a move above 70 in the oscillator likely to be accompanied by a further advance in bullion like the price action from earlier this year.
A break/close above $2501 (50% Fibonacci extension) opens up $2554 (61.8% Fibonacci extension) with the next area of interest coming in around $2592 (100% Fibonacci extension).
Nevertheless, the bullish price action may unravel if bullion struggles to hold above $2448 (38.2% Fibonacci extension), with a move below the $2363 (161.8% Fibonacci extension) to $2396 (78.6% Fibonacci extension) region bringing the monthly low ($2319) on the radar.
--- Written by David Song, Strategist at FOREX.com
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。