367
154 shares, 367 points

Gold continues to see signs of recovery. Gold prices, which fell to $ 1,760 in the past weeks, started to rise this week and broke $ 1,780 yesterday. Today, it traded at levels close to $1,790. At the time of writing, the price of gold is around $1,787 an ounce. So, will the price of the precious metal rise? Here are the opinions of Commerzbank analisdollar series…

Commerzbank analisdollarseries: Gold fiadollaryellow seeks deeper rally

Cryptocoin. com

As we have reported as , gold has seen levels very close to $ 1,790 today. Meanwhile, according to Karen Jones, Head of FICC Technical Analysis Research Team at Commerzbank, XAU/USD will need to regain the 200-day movingollarsy average at $1,794 to confirm the upside move to July tops. Analisdollarser uses the following expressions:

The bounce has yet to break the $1,794 average resistance and just above this will allow a rally towards $1,834.16 and $1,821, the highest since July. We think that the rallies will have difficulties in the moves towards here. The average 55-week movementollary is $1,815.

Analisdollarser says they are relatively neutral on the price action of the precious metal; Just a close above $1,845 (2020-2021 resistance line) is $1,856/1, June 4th low. They think it could rekindle the upside interest for a recovery to $857. Above this level lies the 2021 high of $1,917. Below $1,721 support is at 1.679.80/1, according to Commerzbank analisdollar series. It is located at $677.83 and is supported by the June 2020 low of $1,670. If it goes below $1,670, the target is $1,608.


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