[Where Did You Gold?] Gold Just Sprinted to $1,910, Long or Short?

Kuala Lumpur 5:30 p.m. (GMT+8) - In the early European market, spot gold prices has been rising persistently to the level around $1,910 per ounce. 

On the gold price movement today, Swissquote Bank wrote a brief analysis as follows:

Illustration photo of Gold H4 Chart from Investing.com

If the gold price breaks through the resistance level of $1,910 per ounce, it will continue on a bullish momentum with the next targets set at $1,914 and $1,920 per ounce.

On the other hand, if the gold price falls below the $1,910 per ounce level, this will drag the gold price further to the first target level of $1,899 and the next will be $1,894 per ounce.

Rationale : RSI indicator touched the level of 50.

As a conclusion, $1,894.00 and $1,920 per ounce will constitute the short-term support and resistance to the gold prices, respectively.

Translated and processed from the main article: https://www.24k99.com/2010/432...