XAUUSD: Prediction today

16 окт. 2023 г.

According to technical analysis, gold price is still in the bearish channel on the daily chart. If next week's gold price breaks the 1,940 USD/oz zone, it will exit this downward channel. However, after overcoming this zone, next week's gold price will face a strong resistance zone at 1,970 - 1,987 USD/oz. Here, the pressure to take profits will be huge, especially when ETFs have not returned to buying gold. Meanwhile, the area of ​​1,782-1,810 USD/oz is still an important support zone for short-term gold prices.

16 окт. 2023 г.

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