Gold price confirms the breakthrough

The price of gold achieved a strong breach of the 1945 level and closed the 4H candle above it, strengthening expectations for the continuation of the upward trend during the coming sessions, paving the way for heading towards 1958 as the next main target.



The current negativity of the Stochastic indicator may cause some temporary sideways fluctuation before resuming the expected rise, noting that the 50 moving average provides continuous positive support for the price, while breaking 1945 will stop the positive scenario and pressure the price to turn lower.

Pivot Price: 1945
Resistance Price: 1958 & 1968 & 1978
Support price: 1932 & 1923 & 1913

timeframe: 4H