Gold Down on Trade Optimism
Gold prices plunged for the second day in three on Wednesday, mainly driven by improved risk appetite following positive trade news related to the United States (US). This, along with a bearish technical chart pattern, pushed the yellow metal below the $3,200 mark for the first time since April 11.
As of this writing, Gold prices are at $3,175
RECOMMENDATION
- Buy if price moves to $3,165
- Sell if price moves to $3,180
Resistance 2: $3,195
Resistance 1: $3,185
Support 1: $3,165
Support 2: $3,155
Note: This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id