Last week the gold price fell to the last year low, it’s around 1680. Here the quotes started to grow, this movement was supported by reversal signals of RSI indicator and “bullish engulfing” pattern.
There is still potential for growth, up to 1770. For a more active upward movement, gold needs a significant weakening of the dollar. However, while the US currency is at twenty-year highs, it’s more likely to move within the current downtrend for gold.
This content is for informational purposes only and is not intended to be investing advice.
