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Gold Technical Analysis

On the daily chart below, we can see that gold has recently bounced on the strong support zone at the 1934 level where we can find confluence with the 50% Fibonacci retracement level, the trendline and a weekly 21 moving average. The fall in Treasury yields has also helped gold as the market may now need more strong economic data to price in something more hawkish. Yesterday, the big beat in US Job Openings weighed on gold as the market odds for a June hike jumped to 70%. Even though some Fed me... Read More

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Gold

Technical

Analysis

Forex

Posted: Jun 1 2023, 09:04

Author Name: forexlive

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