Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Is 1,360 Too Much For Gold?

ByAdmirals
Published 10/31/2013, 06:48 AM
Updated 01/31/2022, 02:45 AM
GC
-

During the past few days, buyers had a chance to trigger a mid-term buy signal on Gold. But as we can see, the price is falling, and it looks like the chance is wasted. At the end of October, the price went near the bearish trendline and the resistance at 1,360 USD/oz. Breaking this level would have a bullish impact on Gold and could have led the price to the crucial long-term resistance at 1,420 USD/oz. This scenario needs to be delayed as buyers failed to perform an attack. Instead, the price is now falling to the lowest levels within this week. Sentiment stays neutral as price is locked in a long-term symmetric triangle formation. Breaking one of the blue lines will trigger the long-term signal. So far, it looks like the bottom line will be tested soon.
Gold

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.