Hello dear friends, let's review the gold prices from last week and discuss the strategy for the upcoming week with Karina!
Overall, gold mainly followed a sideways trend last week and didn't experience many changes around $2035 until a new breakthrough was found towards the end of the week.
As a result, gold surpassed the resistance level at $2042 and achieved a significant recovery, with prices reaching as high as $2070. The long-term upward trend is still intact, although a quick correction followed, closing the week's trading at $2053.
Regarding the gold strategy for the next week: The market will enter a holiday period, and the current correction may retest the breakout area around the support level of $2042 before prices potentially continue to reach the high of $2087.
What are your thoughts on the upcoming trend for gold?
Overall, gold mainly followed a sideways trend last week and didn't experience many changes around $2035 until a new breakthrough was found towards the end of the week.
As a result, gold surpassed the resistance level at $2042 and achieved a significant recovery, with prices reaching as high as $2070. The long-term upward trend is still intact, although a quick correction followed, closing the week's trading at $2053.
Regarding the gold strategy for the next week: The market will enter a holiday period, and the current correction may retest the breakout area around the support level of $2042 before prices potentially continue to reach the high of $2087.
What are your thoughts on the upcoming trend for gold?
