Wij gebruiken een aantal cookies om u de best mogelijke browser ervaring te bieden. Door deze website te blijven gebruiken, gaat u akkoord met ons gebruik van cookies. U kunt hier meer leren over ons cookie-beleid of door op de link te klikken onderaan iedere pagina van onze website.
Gold drifting lower towards trendline support
Early gains from yesterday have eroded heavily for gold, with the market moving towards a crucial ascending trendline. This trendline has propped up the price over the past week and thus there is a good chance we could see any selling capped at this level.
Alongside this, we also have the $1271 support level, which could coincide to provide another bounce. Following the triangle breakout in late April, a bullish outlook came back into play once more and thus we look at this market with the view that the bullish medium-term picture will return eventually.
With that in mind, this current downside seems unlikely to last, with a break towards $1287 likely in the coming days. However, a closed hourly candle below $1263 would negate this bullish view.