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Early in the American session, gold is trading around 3,126, below the 8/8 Murray, and below the 21st SMA, under strong bearish pressure and strong volatility.
We believe that gold could continue its decline in the coming hours and could reach the 7/8 Murray level at 3,046.
On the other hand, a consolidation above 3,120 could signal a resumption of the bullish cycle, and gold could reach its high of 3,167 and even touch the +1/8 Murray level at 3,203.
Besides, this area represents important support as it coincides with the high recorded on March 17.
We believe that a technical rebound could occur, so this area could be seen as an opportunity to buy.
Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.
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