Gold is trying to force the first key level of $1,470, helped by the weakening of the US Dollar. If prices ended today’s trading session above $1,470, we would have a first positive signal, while the area $1,450 remains an important support level. While the precious metal is trying to recover the strength that boosted it in the first part of this year, the decline seen in the last few weeks can still be seen as a correction rather than an inversion, as long as prices hold above $1,450.
Chief analyst at ActivTrades and technical analyst for Italian newspaper 'La Stampa'. Carlo Alberto provides regular commentary for UK outlets including the BBC, Telegraph, the Independent Bloomberg & Reuters. He is also a weekly commentator for CNBC Italy and a columnist for La Stampa. He worked for Bloomberg as their Equity Research Fundamental Analyst before joining brokerage ActivTrades in 2011 to specialize in currency markets and commodities. In 2014 he published a 250-pages book on gold and the gold market, followed in 2018 by a new updated edition.
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© 2019 High Leverage FX - All Rights Reserved.