Gold Rises!
Gold prices continue to struggle for their highest levels, hitting $3,353 for the first time on Thursday (4/17) during the Asian trading session, as Federal Reserve Chairman Jerome Powell's warning about the impact of the trade war sparked volatility on Wall Street, leading to sharp declines in stocks and the dollar.
Meanwhile, the Trump administration is preparing to pressure countries to curb trade with China in US tariff negotiations. Both of these have created sentiment for market players to seek a hedge, with gold being the main choice.
RECOMMENDATIONS
- Buy if the price moves to $3,355
- Sell if the price moves to $3,340
Resistance Level 2: $3,365
Resistance Level 1: $3,355
Support Level 1: $3,340
Support Level 2: $3,330
Note:
This article is only an analysis and is not a definitive reference. Keeping in mind the fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id