Key Support: 1890 – 1870
Key Resistance: 1910 – 1925
Gold has been in a very strong bullish move since the beginning of April (+13.78% move) breaking with the long term bearish structure it had been trading in since it hit all time highs back in August 2020.
The last time we broke with a new high and held it as support was back in May 16th and when that happen Gold rallied 2.5% to create a new high around 1890.
This high was eventually broken with on Tuesday and right now we are retesting it as support. Historic price action suggests a 2% move to at least 1920 (green line). With the DXY (US Dollar Currency Index) still trading in a very structured bearish move and talks of QE tapering hitting the wires, metals could in fact start to rally really hard.
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
- Zero commissions and no bank fees on transactions
- Around the clock service with support in 14 languages
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated