Gold prices are yellow, trading in the bearish direction, with prices above $1,800. The gold market, which has not been able to meet the expectations recently, is losing hope. So, will the gold price yellow gain momentum again? Analyst expectations Cryptocoin. com, we have compiled it for you, let’s examine it together…

Credit Suisse strategistdollarseries: Gold fiadollaryellow may fall to these levels

Gold fiadollaryellow remains stable in its narrow range. However, it is trading capped at $1,832/34 at July/August highs. Credit Suisse strategistdollarseries reports that a break below $1,775 will lead to more declines. Credit Suissestratesdollarseri made the following comments on the subject:

Only a break above $1,834 could open the way for a deeper recovery. Gold extends its consolidation at $1,832/34 below July and August highs. Below $1,775, a downside bias could emerge again to drop back to $1,691. Below $1,671 alone, there could be a significant bearish reversal change. Support is then seen initially at $1,620/15 before $1,565/60. It will only be seen that a break above $1,834 completes an in-range bottom to pave the way for a deeper recovery to $1,863 then $1,917.

Anil Panchal: Gold can defy drop at these levels!

Gold price is witnessing mixed trading sessions. While the current market environment keeps investors away from the net, analyst Anil Panchal evaluated the gold prices. Anıl Panchal analyzed the markets and made the following comments on the subject:

Despite crossing an immediate trading range between $1,782 and $1,804, the yellow gold price failed to secure a daily close beyond the 200-DMA near $1,809. Also, the gold buyer is challenged by the lackluster MACD and RSI conditions, as well as the double tops surrounding $1,834. Meanwhile, 61% of the July-August decline. The 8 Fibonacci retracement, around $1,777, is adding to the downside filters apart from multiple lows recently near $1,782. It is worth observing that the horizontal support of around $1,758 for five weeks will challenge the golden bears below $1,777. Overall, gold remains tighter, but it needs to break past the 200-DMA to give the bulls control.

Like it? Share with your friends!

Michael Lewis


Your email address will not be published. Required fields are marked *