Basic forecast and rib structure for golden momentum
The price of gold has cooled down compared to earlier this morning, after reaching its highest point in over six weeks at $2051. It increased by 1.5% for the day and currently remains stable at its seven-month high of $2044.
Gold is expected to continue rising in the near future. The 1-hour chart shows that both EMA lines indicate strong buying pressure. There is a possibility of a correction before the price resumes its strong upward trend, and Samson's perspective emphasizes the importance of this adjustment period.
Key support levels to consider are $2020 and $2030.
There are consecutive resistance levels at $2050, $2060, and $2070.
Gold is expected to continue rising in the near future. The 1-hour chart shows that both EMA lines indicate strong buying pressure. There is a possibility of a correction before the price resumes its strong upward trend, and Samson's perspective emphasizes the importance of this adjustment period.
Key support levels to consider are $2020 and $2030.
There are consecutive resistance levels at $2050, $2060, and $2070.
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