The price of gold appears to be on track to test the June low ($1893) as it extends the series of lower highs and lows from last week.
Gold Price Outlook
The price of gold seems to be tracking the negative slope in the 50-Day SMA ($1941) as it registers a fresh monthly low ($1903), and failure to defend the June low ($1893) may push the Relative Strength Index (RSI) towards oversold territory as it slips to its lowest level since June.
A break/close below the $1886 (23.6% Fibonacci extension) to $1896 (61.8% Fibonacci retracement) region may push the price of gold towards $1843 (50% Fibonacci retracement), with the next area of interest coming in around the March low ($1809).
Nevertheless, the price of gold may attempt to retrace the decline from the start of the month if it holds above the June low ($1893), with a move above $1937 (38.2% Fibonacci extension) raising the scope for a move towards the monthly high ($1966).
Gold Price Outlook
The price of gold seems to be tracking the negative slope in the 50-Day SMA ($1941) as it registers a fresh monthly low ($1903), and failure to defend the June low ($1893) may push the Relative Strength Index (RSI) towards oversold territory as it slips to its lowest level since June.
A break/close below the $1886 (23.6% Fibonacci extension) to $1896 (61.8% Fibonacci retracement) region may push the price of gold towards $1843 (50% Fibonacci retracement), with the next area of interest coming in around the March low ($1809).
Nevertheless, the price of gold may attempt to retrace the decline from the start of the month if it holds above the June low ($1893), with a move above $1937 (38.2% Fibonacci extension) raising the scope for a move towards the monthly high ($1966).
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.