Gold
Our latest gold market analysis shows a rise in gold prices to $1,859, following a rebound from the $1,805 support area. Key indicators, including the RSI and stochastic indicator, suggested a potential rise. A bullish engulfing candlestick pattern near the $1,805 support on the daily chart signals a potential market reversal.
On the 4H chart, gold price is grappling with a non-linear trendline and RSI near level 70. However, a significant barrier at the $1,883 pivot point suggests a stronger bearish scenario. We suggest a sell stop at 1,849, targeting 1,806, with risk at 1,870.
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source fxnew.me