He Gold it has benefited greatly from falling yields and the reversal of the USD. The economists of Credit Suisse They expect a major resistance test at the $2,070/$75 highs.
A break below the 55 DMA at $1,898 would suggest another reversal to the downside
“We expect a retest of the long-term resistance of the $2,070/$75 2020 and 2022 highs. While this should clearly be adhered to, a clear and sustained break higher would mark a major long-term break higher to open the door. to a move towards $2,300 below.”
“Ideally, the 55 DMA, currently at $1,898, is the bottom of the market now. If this breaks down, it would lessen the risk of a break above $2,070/$75 and suggest another reversal to the downside within the wider range. , with the next support at $1,778.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
