Market Focus: Gold
Is Gold still holding demand?
Hi traders, happy Friday. Today we take a look at Gold, after last night’s decline there’s some support developing today suggesting this week’s up leg could continue.
The key for me atm is yesterday’s 1721.59 low, the price tested that level in today’s Asian session and since that test buyers have been back in the market. We want to see that level hold, a close below suggests sellers could still be in control. If we do see a rally gold bulls may face resistance at 1740 and at 1744 to 1748.
USD news to come, 00:00 AEST US Prelim UoM Consumer Sentiment
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