Will gold continue to increase in the near future?
Hello everyone, do you think gold prices will increase or decrease this week and in the near future? Here are some insights from Karina!
Currently, in the short term, we are still prioritizing selling as prices are undergoing a correction phase, with trading levels revolving around $2035. However, when considering the long term, the 1D chart analysis supports a strong upward trend for gold, with a marked support level at $2017. Another factor that favors gold is that the trendline has not been broken yet.
These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main driving force for investors to push prices back to the resistance level of $2088 and achieve a new record high.
What about you? Do you think gold will increase or decrease in the near future?
Currently, in the short term, we are still prioritizing selling as prices are undergoing a correction phase, with trading levels revolving around $2035. However, when considering the long term, the 1D chart analysis supports a strong upward trend for gold, with a marked support level at $2017. Another factor that favors gold is that the trendline has not been broken yet.
These two factors, along with market sentiment resulting from interest rate cuts this year, will be the main driving force for investors to push prices back to the resistance level of $2088 and achieve a new record high.
What about you? Do you think gold will increase or decrease in the near future?
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