Buying action also occurred in Gold although still in a narrow range
Gold prices moved in the $2570 area this morning after touching $2535 yesterday after the US data was released.
Gold struggled to strengthen around $2,570 today. After bouncing from a two-month low in the previous session. This precious metal is still under selling pressure amid the strong US Dollar (USD) and increasing uncertainty surrounding the pace of the Federal Reserve (The Fed) interest rate cuts.
Recommendations:
- Buy if the price moves at least at the $2574 level
- Sell if the price is at least around the $2563 level
Resistance Level 2: $2581
Resistance Level 1: $2574
Support Level 1: $2564
Support Level 2: $2557
DISCLAIMER
Note: This article is only an analysis and not a definite reference. Keep paying attention to developments in fundamental and technical aspects in transactions before making investment decisions.
Source: newsmaker.id