Gold continues its consolidation below $1,832 and $1,834, the highs of July and August, according to experts. The XAU/USD pair climbed above $1,780 on Wednesday but reversed its direction in the second half of the day. Today, although it sees levels very close to $ 1, 790, it changes hands at $ 1,783 at the time of writing. So what’s next? Precious metal bullish direction? Or is it the downward direction?
Credit Suisse strategistdollarseries: Gold will come under pressure
Although trading at $1,783 at the time of writing, the yellow metal will only come under pressure below the $1,691 and $1,677 region, according to Credit Suisse’s strategistdollarseries. Cryptocoin. com
As we have reported as , the bank’s strategistdollarseries has drawn attention to these levels before. A break above $1,834 and $1,845 is needed to pave the way for a deeper recovery for gold to $1,917, according to the bank’s strategistdollars. Strategiesdollarser uses the following expressions in its statements:
Only 1.691/1, although bearish pressure appears to be increasing. Levels below $677 will be a key top for a key bearish reversal change, followed by support at 1.620/1. 615 dollars; then 1.565/1. He’ll see $560. Only 1,834/1. A break above $845 will appear to complete the bottom levels of the range to pave the way for a deeper recovery to $1,917.