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Gold’s Current Correction: Implications for Future Trends and Support Levels
video Gold further retraces its prior advance, falling to a low of 1,939 on Thursday. That low put gold down 6.8% from the record high of 2,082 reached several weeks ago. A 50% retracement completed at 1,944. Lower down is a weekly low at 2,034 and the 100-Day EMA at 1,934. chart This is the second approach to the 100-Day line to test it as support since gold went above it in November. It represents an important area of support as it is close to the trend line at the low end of a rising parallel trend channel. The most recent test of the 100-Day line occurred in February and March and ended with a double bottom. ... (full story)
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From youtube.com/theeconomistintelligenceunit|May 25, 2023In EIU’s latest global outlook video, global forecasting director, Agathe Demarais, and global economist, Cailin Birch, discuss the US debt ceiling saga.
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- Posted: May 25, 2023 5:31pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 117
