Technical Analysis

Gold rises for second day after holding assist at $1300

Gold continues to look wholesome

Gold was hit by the standard stoop early within the week of Chinese language lunar new 12 months. I talked about that sample final week and it is performed out as anticipated.

Now danger aversion is ramping again up and that is what fueled a lot of the rally late in 2018. Issues in US-China negotiations might additionally add a tailwind.

Technically, the small retracement this week held $1300, which was the previous breakout degree. It might want to get above $1326 to proceed the uptrend however the stable bids showing well-before $1300 are constructive.

Gold continues to look healthy


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