The precious metal is currently balancing slightly below its medium-term upside support line, taken from the lowest point of August last year.
In order to consider the upside again, we need a firm move, not only back above the aforementioned upside support line, but also above the psychological 800 barrier.
If the price continues sliding and falls below the 780 level, marked by the lowest point of December, this could open the door to much lower areas.
Please see the chart for details.
Don't forget your stop-loss.
In order to consider the upside again, we need a firm move, not only back above the aforementioned upside support line, but also above the psychological 800 barrier.
If the price continues sliding and falls below the 780 level, marked by the lowest point of December, this could open the door to much lower areas.
Please see the chart for details.
Don't forget your stop-loss.