Gold Price Is Struggling To Clear A Major Bearish Trend Line With Resistance Near $1,815

Gold price started a fresh decline from well above the $1,850 level against the US Dollar. The price broke the $1,800 support level and the 50 hourly simple moving average.


The price traded as low as $1,785 before the price started an upside correction. There was a recovery above $1,800 and the 50 hourly simple moving average. However, the price is struggling to clear a major bearish trend line with resistance near $1,815 on the hourly chart.



If the price breaks the trend line resistance, there are high chances of a move towards the $1,830 and $1,835 resistance levels.

Conversely, the price might decline back below $1,800 on FXOpen. An initial support is near the $1,792 level. The main support is now forming near $1,785, below which the price might decline towards the $1,750 support zone in the near term.

1 view0 comments

Recent Posts

See All

Credit 

Caution:

Trading involves the possibility of financial loss. Only trade with money that you are prepared to lose, you must recognize that for factors outside your control you may lose all of the money in your trading account. Many forex brokers also hold you liable for losses that exceed your trading capital. So you may stand to lose more money than is in your account. Smart Analysis Pvt takes not responsibility for loss incurred as a result of our trading signals. By signing up as a member you acknowledge that we are not providing financial advice and that you are making a the decision to copy our trades on your own account. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. You must make your own financial decisions, we take no responsibility for money made or lost as a result of our signals or advice on forex related products on this website.

PayPal

Credit  & Debit Card

  • Black Facebook Icon
  • Black Instagram Icon
  • Black YouTube Icon

© 2023 by Personal Life Coach. Proudly created with Wix.com