In the early Asian market, spot gold prices has slightly improved to $1,908.60 per ounce. On the latest gold price movement today, Economies.com wrote a brief analysis as follows:
If the gold price fails to break through the imperative resistance level of $1,908.60 per ounce, there is a possibility for it to see a drop of up to $40.
As mentioned in the same article, the gold price has attempted to break through the imperative resistance level $1,908.60, however, failed on Monday. This has formed a possible bearish trend in the short term period.
![[Where Did You Gold?] Possible Slide of $40 in Gold Price Today](https://socialstatic.fmpstatic.com/social/202010/065d0039cc05475197f60393e15fbf6a.png?x-oss-process=image/quality,q_70/format,jpeg)
Illustration photo of Gold H4 Chart from Economies.com
The article pointed out, the EMA 50 signal is still pressuring the gold price as shown in the 4-hour chart, further consolidated their bearish expectation. Under the assumption of a bearish trend prospect, the next target has been set at $1,860.90 per ounce.
The financial site estimates $1,875 and $1,915 per ounce to be the short term support and resistance levels of the yellow metal respectively.
Translated from the original article: https://www.24k99.com/2010/433...
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