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24.03.202221:43 Forex Analysis & Reviews: Gold upside movement activated

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Gold Reversal!

The price of gold is traded at 1,963 at the time of writing. As you already know from my analyses, XAU/USD was somehow expected to develop an upside movement after failing to stay below 1,911.93 key level (historical level, former high), and after jumping above the downtrend line.

In the short term, it has moved somehow sideways between 1,911 and 1,945 levels. The 1,945 represented an upside obstacle. Passing above it signaled strong buyers and potential further growth.

GOLD Trading Conclusion!

The price of gold extended its growth after passing above the 1,945 static obstacle. Breaking above this level helped the buyers to catch a strong growth. Now, it has passed above 1,959 previous high which represented an upside obstacle as well. The current breakout may announce further growth.

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