#XAUUSD @ 1,926.74 Gold Price Forecast: could retest $1,900 but buyers may re-emerge, spurring volatility
…
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 holds its recent range after testing the $1,900 mark on Tuesday. In the view of FXStreet’s Dhwani Mehta, XAU/USD appears ‘buy the dips’ trade.
“The bright metal dropped sharply to the $1,900 threshold on Tuesday but staged a solid comeback thereafter. This suggests that Gold price remains a ‘buy the dips’ trade from a short-term technical perspective.”
“On the upside, Gold buyers need to find acceptance above the $1,935 hurdle to negate the recent downbeat mood. Further up, the move higher could challenge the $1,950 psychological level before attacking the $1,960 supply zone.”
“Gold sellers need a daily closing below the bullish 21-Daily Moving Average (DMA) at $1,907 to extend the correction from nine-month highs of $1,949. The last line of defense for Gold buyers stands at the $1,900 level, below which floors will open up toward the January 11 low of $1,867.”
[/s2If]
Join Our Telegram Group
