10.5 Monday Gold Morning Review
Gold prices formed a “double top” reversal pattern within the strong resistance zone at the 4220 level. Previously, two attempts to break through were met with strong selling pressure.
At present, we will closely watch whether gold prices will fall below the key level of $4,100.
I believe gold may test the support area between 4,070 and 4,050.
Resistance levels are at 4,180–4,205.
The next resistance level is 4,250–4,280.
The downside target prices are 4,100, 4,070, and 4,050, respectively.
Gold prices formed a “double top” reversal pattern within the strong resistance zone at the 4220 level. Previously, two attempts to break through were met with strong selling pressure.
At present, we will closely watch whether gold prices will fall below the key level of $4,100.
I believe gold may test the support area between 4,070 and 4,050.
Resistance levels are at 4,180–4,205.
The next resistance level is 4,250–4,280.
The downside target prices are 4,100, 4,070, and 4,050, respectively.