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Gold returns to its supply area.

jeffriess
มิถุนายน 1, 2020
by Joseph Jeffriess, Market Analyst

Gold back at supply.

Welcome to new week traders, today we take a look at Gold as price has once again moved back into an established supply area. For a clear picture, we are focusing on the weekly chart in today’s video. 1727 and 1730 are the two main levels we’re watching as price has only closed above 1730 twice after crossing it. The second close was a down day that lead to a short-term move back below 1700.

Based on last weeks strong fightback from buyers could we see a new push at the May high this time round or will sellers once again hold firm from this supply area?

Market Report Video

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