Gold downtrend continuation towards $1700
Gold and Silver suffered heavy losses and dropped to their weakest levels since September 2021. The #DXY strength amid growing recession fears and the worsening demand outlook for the yellow metal caused precious metals to close in the negative territory for the fourth straight week. Gold has support at $1730 - $1717, while resistance is at $1752 - $1764 .
Currently #XAUUSD is in oversold conditions and could see a minor correction. The sellers will need acceptance below the $1722 demand area to unleash the additional downside towards $1700 - $1680 demand zone. A move above the daily highs of $1745 would revive the bullish interests, with sight on the $1750 psychological level.
Currently #XAUUSD is in oversold conditions and could see a minor correction. The sellers will need acceptance below the $1722 demand area to unleash the additional downside towards $1700 - $1680 demand zone. A move above the daily highs of $1745 would revive the bullish interests, with sight on the $1750 psychological level.
Catatan
#Gold reached the target $1700 and now we may see a correction.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.