REDATOR Redator Postado Setembro 10 REDATOR Denunciar Share Postado Setembro 10 Recently, the price of gold has received substantial support based on two main factors. First, the anticipated reduction of interest rates by the Federal Reserve would weaken the US dollar. The second factor is the ongoing global tensions, which threaten to escalate into a major conflict. These factors could spark a renewed rise in the price of the "yellow" metal, pushing it first to the recent high of 3672.42, and then to a new all-time level at 3682.00.From a technical perspective, the pair is testing the resistance level at 3644.00; breaking above this level could provide grounds for further price growth.Technical picture and trading idea: The price is above the middle line of the Bollinger Bands, and above both the 5-period and 14-period SMA. The RSI is rising, having reversed from below the overbought zone. The Stochastic indicator is turning up above the oversold zone. Gold prices may rise to 3682.00 if the Fed decides to cut interest rates by 0.50%. The level of 3648.40 may serve as a buying entry point.The material has been provided by InstaForex Company - www.instaforex.com Citar Link para o comentário Compartilhar em outros sites More sharing options...
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