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  • Gold Price - Strong Resistance Keeping Rally at Bay For Now

    From dailyfx.com

    The price of gold is currently pushing towards a clutch of resistance levels after making a strong rebound over the last week. Support around the $1,675/oz. area held, aided by the 61.8% Fibonacci retracement level at $1,689/oz. and the subsequent rally has the precious metal nearing a cluster of resistance levels which may prove difficult to overcome. One of the main drivers of the recent sell-off in gold has been the ongoing rise in US Treasury yields as the market continues to price in the inflationary effect of the US fiscal and monetary largesse. After hitting a recent 14-month of 1.75%, the yield on the 10-year ... (full story)

  •  Guest
  • | IP XXX.XXX.113.217
The traders driving the uprising in Gold are very nimble and deft. They know they are in doubtful territory before joiners escalate the move, and at each area of of such doubt (like 1755) they pile in. So far, apart from being organized these people are also have deep pockets to play in very tight ranges and win. Does appear, there is something to the rally after all and we might in fact see the 1800 handle at this rate.

The Crow (-_-)
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  • | IP X.XXX.174.50
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  • Story Stats
  • Posted: Apr 8, 2021 9:50am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 1  /  Views: 165
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