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GOLD 23-10-2023.

Technical Analysis
By Shady Fouad
0 54

GOLD 23-10-2023.

Last week, prices surged at a strong pace, breaking through a resistance zone within the range of 1940 and nearing the 2000 level. It is anticipated that there will be selling pressure in these areas, potentially slowing down the upward momentum. We may see a retest of the 1950 level, but this scenario could be invalidated if prices breakthrough 1985 range  and sustained strength above it.

Support

 1950 1940 –
Resistance 1985 2050

–
Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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