Gold Returns to $2940 Area
Gold moved in a positive direction in early European trading, on Tuesday (25/2) after experiencing profit taking action to touch the lowest area of $2929.
The recent uptrend in the precious metal coincided with negative signs regarding the long-term condition of the economy and the labor market in the US. This source of uncertainty has added to the prevailing uncertainty globally such as concerns over the trade conflict between the US and the rest of the world. This is still a major factor for the increase in the price of Gold
Until this news was released, the price of Gold was at the level of $ 2,940
RECOMMENDATION
- Buy if the price moves to $ 2,935
- Sell if the price moves to $ 2,945
Resistance Level 2: $ 2,950
Resistance Level 1: $ 2,945
Support Level 1: $ 2,935
Support Level 2: $ 2,930
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
