[Where Did You Gold?] Possible Short Or Still Bullish Ahead for Gold at This Level?

Kuala Lumpur 6:30 p.m. (GMT+8) - In the early European market, spot gold prices has been fluctuating around the level of $1,900 per ounce. 

On the latest gold price movement, Swissquote Bank wrote a brief analysis as follows:

Illustration photo of Gold H4 chart from Investing.com

If the gold price breaks through the resistance level of $1,906 per ounce, it will continue on a bullish momentum with the next targets set at $1,914 and $1,920 per ounce.

On the other hand, if the gold price does not break through $1,906 per ounce, this will instead drag the gold price down to the first target level of $1,891 and the next will be $1,882 per ounce.

Rationale : $1,906 is an important resistance level, there is a high possibility to see the price to flop if it does not break through this level.

As a conclusion, $1,882 and $1,920 per ounce will constitute the short-term support and resistance to the gold prices, respectively.

Translated from the original article: https://www.24k99.com/2010/433...