#XAUUSD @ 1,895.69 Gold Price Forecast: enters the overbought zone but buyers may capitalize on any pullbacks
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Gold price struggle with $1,900 extends. The yellow metal needs a close above the latter to add credence to the bullish potential, FXStreet’s Dhwani Mehta reports.
“Gold now looks to find a strong foothold above the $1,900 threshold. Daily closing above that mark is critical to unleashing the further upside toward May 2022 high at $1,910. A fresh upswing toward the $1,950 psychological level cannot be ruled out should Gold buyers regain complete control.”
“The 14-day Relative Strength Index (RSI) is peeping into the overbought territory, suggesting that there is enough room to the upside before a sustained correction kicks in.”
“Failure to yield a weekly close above the $1,900 level could put Thursday’s low at $1,872 under threat. Fresh weakness in XAU/USD could prompt sellers to target the $1,850 psychological level going forward.”
[/s2If]
Join Our Telegram Group
