Gold Weakens, Position Unwinding Increases
Gold weakened again due to continued position unwinding.
Although gold has recently recovered, the direction of Fed policy and the impact of the US shutdown on the economy still cast a shadow over its future direction.
At the time of this analysis's release, the price of gold was at $4,066.
- Buy if the price is above $4,060.
- Sell if the price is above $4,070.
Resistance 2: $4,083.
Resistance 1: $4,075.
Support 1: $4,055.
Support 2: $4,043.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id