Re: Technical Analysis by FXOpen
Gold Price And Crude Oil Price Eyeing More Upsides
Gold price started a steady rise above the $1,700 and $1,710 levels. Similarly, crude oil price is showing positive signs and it could continue to rise above $28.00.
Gold Price Technical Analysis
Gold price remained well bid above the $1,680 level and climbed above $1,700 against the US Dollar. There was a clear break above the $1,718 and $1,722 resistance levels to start a decent increase.
The price even settled above the $1,722 level and the 50 hourly simple moving average. It traded to a new weekly high at $1,736 on FXOpen and the price is currently consolidating gains.
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