Gold prices finally break above the recent range – Société Générale
Source Fxstreet
Gold has broken out above the upper limit of the range within which it consolidated since February denoting possibility of extension in uptrend, Société Générale's FX analysts note.
Next objectives are located at projections of $3015 and $3035/3050
"Daily MACD is at a lower level than February highlighting receding upward momentum however signals of a meaningful pullback are not yet visible in price action. Next objectives are located at projections of $3015 and $3035/3050 which is also the upper limit of an ascending channel. Recent pivot low of $2880 is a crucial support in case a brief pullback materializes."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
The Japanese Yen (JPY) kicks off the new week on a weaker note in reaction to reports that the ruling Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) have agreed to form a coalition government.
Silver price (XAG/USD) trades 0.7% higher to near $52.30 during the late Asian trading session on Monday.
Solana (SOL) price extends its recovery, trading above $192 at the time of writing on Monday, after rebounding from the ascending trendline support last week.
The crypto market has been turbulent in October, with altcoin market capitalization dropping another 15%. Could this downturn worsen before October ends?
Related Instrument
