Gold resumes its uptrend – Societe Generale
Source Fxstreet
Gold resumed its uptrend after breakout from a multi-month consolidation and has reached $2940, Societe Generale’s FX analysts report.
Gold can reach the $2985/3000 range
“The move is a bit stretched but signals of a meaningful pullback are not yet visible. Recent pivot low of $2830 will be a potential support in case a brief decline develops.”
“Defence of this can lead to persistence in up move. Beyond $2940, next potential hurdle could be located at the upper limit of an ascending channel near $2985/3000.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Tesla Q2 Earnings Preview: Record Deliveries Fail to Hide Profit Pressure, Can Musk Rely on AI and Autonomous Driving to Unlock New Growth Space?Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie
Tesla ( TSLA) will release its second-quarter financial results after the U.S. market close on July 22, Eastern Time. As one of the most closely watched technology and automotive companie
Crude Oil Price Forecast: Worsening US-Iran Tensions Support Oil Prices Breaking Above $90, Can Brent Crude Return to $100?As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.
As of the Asian session on July 20, Brent crude ( UKOIL) opened higher and moved higher today, attempting to break through the $90 mark during intraday trading, reaching a high of $91.42.
West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.
As of the Asian session on July 17, gold prices ( XAUUSD ) fluctuated around $4,000. However, it is worth noting that gold closed at $3,969.41 yesterday, confirming a break below the $4,0
TradingKey Daily Market Brief: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold OffTracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
Tracking Market TrendsTradingKey - On July 16, Eastern Time, the three major US stock indexes closed down collectively. Although US economic data performed robustly and the start of the Q2 earnings se
Related Instrument
