The yellow metal's price on Tuesday reached a very important resistance level.
Economic activity in the US services sector was the strongest in more than 12 years, supported by rising new orders, suggesting that the economy sustained the strong momentum in the beginning of the year.
Economic activity in the US services sector was the strongest in more than 12 years, supported by rising new orders, suggesting that the economy sustained the strong momentum in the beginning of the year.
Economic activity in the US services sector was the strongest in more than 12 years, supported by rising new orders, suggesting that the economy sustained the strong momentum in the beginning of the year.
The yellow metal seems to be the only asset not affected by the panic occurring this week in the markets.
The yellow metal seems to be the only asset not affected by the panic occurring this week in the markets.
The short term forecast for the bullion has been wrong, as the tests of the 1,350 mark have ended with a failure.
The yellow metal's price on Monday made another attempt to pass the 1,350 mark. However,
The previously discovered short term channel down pattern of the hourly chart has provided resistance to the metal's attempt to regain ground.
On Wednesday morning the yellow metal traded in a range between the 1,335.00 and 1,350.00 levels.
On Tuesday morning the yellow metal's price extended its decline until it was finally stopped by a psychological level.
After the weekend the yellow metal's price remained near the 1,350 mark. However,
Due to a speech given by Donald Trump at the World Economic Forum,
The long awaited passing of the 1,350.00 level has occurred.
On Wednesday the long expected surge up to the 1,350 mark had resumed.
On Tuesday morning the commodity price had begun a surge.
The yellow metal on Monday traded in the same range as on Friday.
The commodity price found support in the 200-hour SMA a couple of trading sessions ago. The resulting surge had extended itself on Friday.
After failing two times to pass the 1,345 mark, the yellow metal has touched the 1,325 mark and rebounded against it.
Although the yellow metal managed to find support on Tuesday, after another attempt to pass the 1,345.00 level the price retreated back down to the 1,335 mark. However,
The surge of the yellow metal on Tuesday had turned sour, as the pair had declined down below the 1,335 mark.
On Monday the yellow metal continued the ascent, which was started last week.
In result of the overall depreciation of the buck, the yellow metal managed to break through the upper edge of a descending channel and reach the 1,330.00 mark.
Because of combined support formed by the lower line of an ascending channel and the 200-hour SMA, the pair made another attempt to surge above the 1,323.00 level.