Gold (#Gram / TRY) – Medium-Term Analysis
In the chart, the price has been moving within a long-standing descending channel. Right now, the lower band of the channel and the horizontal zone are being tested.
Support: 6,500
Resistance: 6,800
Expectation: 7,500 until November
If it holds above 6,500, first the 6,800 resistance, and then the 7,027 – 7,463 zone could come into focus with a channel breakout. The main target is around 7,500 until November.
In case of sustained dips below 6,500, the 6,284 and 5,887 levels should be monitored.
In the short term, a breakout above 6,800 will increase buying interest; in the medium term, the direction looks upward. NOT INVESTMENT ADVICE. This is my own follow-up.
In the chart, the price has been moving within a long-standing descending channel. Right now, the lower band of the channel and the horizontal zone are being tested.
Support: 6,500
Resistance: 6,800
Expectation: 7,500 until November
If it holds above 6,500, first the 6,800 resistance, and then the 7,027 – 7,463 zone could come into focus with a channel breakout. The main target is around 7,500 until November.
In case of sustained dips below 6,500, the 6,284 and 5,887 levels should be monitored.
In the short term, a breakout above 6,800 will increase buying interest; in the medium term, the direction looks upward. NOT INVESTMENT ADVICE. This is my own follow-up.
