Gold has reached Commerzbank’s target of $1983. Strategists at the bank expect the yellow metal to experience some profit taking as forays above are seen short-lived. On the flip side, the 55-day ma at $1838 is a solid support.
Key quotes
“Gold has reached the top of its 49 year channel at $1983. It represents our long-term target. This should hold the initial test and provoke some profit-taking.”
“Forays above $2000 are expected to remain short-lived. Above $2000 we have a point and figure target of $2030 and a Fibonacci extension to $2088.”
“Support is offered by the 55-day ma at $1838 and the five-month uptrend at $1829. Below 1829 lies the $1765 May high. This guards the $1670 June low.”
Reprinted from fxstreet.com, the copyright all reserved by the original author.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.