Gold May Be Finding Support!
Gold has experienced a lot of volatility recently and mainly due to the current health pandemic
but price appears to be gaining some order now.
Since May 2019, price has risen 37% but hasn’t formed the neatest of trends.
There have been periods of pullbacks such as the period from the 4th September 2019 to the
6th January 2020.
The sharp decline, which was a result of the pandemic, began on the 9th March 2020 and fell
by 14% from the high at $1,703.
Price quickly found bullish momentum and has since broken and closed above the previous high
and is currently testing it as support.
If the support level holds then the buyers should gain more momentum and push price even higher.
We now have to wait and see how price reacts going forward and get ready to take long positions
at the right time.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
but price appears to be gaining some order now.
Since May 2019, price has risen 37% but hasn’t formed the neatest of trends.
There have been periods of pullbacks such as the period from the 4th September 2019 to the
6th January 2020.
The sharp decline, which was a result of the pandemic, began on the 9th March 2020 and fell
by 14% from the high at $1,703.
Price quickly found bullish momentum and has since broken and closed above the previous high
and is currently testing it as support.
If the support level holds then the buyers should gain more momentum and push price even higher.
We now have to wait and see how price reacts going forward and get ready to take long positions
at the right time.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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