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Gold prices closed the Monday trading session down $ 1.27 per ounce, under strong dollar pressure and increased risk appetite in global markets. World stocks rose yesterday. US stocks began the week in a positive manner, with all leading indicators ending today in positive territory. The economic data expected Monday are low and include the Conference Board Consumer Confidence Index.
From a graphical point of view, bullish movement has a short-term preference, with the market above daily charts and four-hour charts. However, note that the USD / USD is currently under cloud over the H1 and M30 periods and that, therefore, the upward movement has pushed prices above the 1225.30-1224.80 area to orientate itself. to 0/1232. If this strategic resistance is exceeded, further progress should be achieved with targets around 1236 and 1240.
If the market continues to trade below 12:25, the region is at 12: 19.50-121870, where the Tincan-Sin line (nine-period moving average) corresponds to the Keen-Sun level (26-period moving average). ). A break below 1218.70 could trigger a move towards 1216. When the move goes down, drag prices below 1216 to 1213. Closing below 1213 will open the risk door around 1203.
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