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Gold Prices Back Near 1967 Resistance

Posted On 15 Sep 2020
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The precious metal is trading stronger on Monday, with gains driven by a weaker USD and the Fed meeting.

Price action is a few points away from the 1967 level which held up as resistance earlier on.

A breakout above this level could give way to further gains, with the next challenge near the 2000 handle.

To the downside, prices are well supported near the 1911.50 region.

The confluence of the trend line and the horizontal resistance could, however, pose a challenge for gold prices in the short term.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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