Gold price continues to fall below 1950 USD
Hello, Karina's amazing friends!
Today, gold is still in a downward trend, trading around $1945 and experiencing a 0.03% decrease.
On the analysis chart: Gold has been unable to receive support from the $1950 level and has broken through this level to establish a new support level at $1933. The price is currently increasing and retesting the area of activity between the 34 and 89 EMA lines. However, this upward momentum will not be sustained for long as the EMA is indicating a downward trend. Precious metal may once again turn downwards if the price reaches $1950.
What do you think, will the price of gold increase or decrease?
Today, gold is still in a downward trend, trading around $1945 and experiencing a 0.03% decrease.
On the analysis chart: Gold has been unable to receive support from the $1950 level and has broken through this level to establish a new support level at $1933. The price is currently increasing and retesting the area of activity between the 34 and 89 EMA lines. However, this upward momentum will not be sustained for long as the EMA is indicating a downward trend. Precious metal may once again turn downwards if the price reaches $1950.
What do you think, will the price of gold increase or decrease?
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