Gold Technical Analysis on Daily Timeframe: 07/10/2023deltawriter 10 July 2023
Short-term fluctuations currently indicate an upward trend in gold’s movement on the daily timeframe.
If the bullish pressures persist, a breakthrough of the range in 1925 could signify an ascent toward the resistance level in 1985. Should this level be surpassed, traders’ attention will turn to the 2000 level.
On the other hand, bearish actions could drive the price towards the recent three-month low at 1893. If this support level is broken, traders’ focus could shift to the March 1857 resistance level, close to the 200-day Simple Moving Average (SMA). Crossing that range could pave the way for the lowest level, 1804 in 2023.
To enter the forex market and gain more profits, log in to DeltaFX broker right now.