GOLD - BULLISH TENDENCY (4H)
Gold rebounds amid escalating Middle East tensions
Gold prices rose in the European market on Thursday for the first time in the last six days, as safe-haven buying of the metal increased amid escalating geopolitical tensions in the Middle East, with Iran preparing to strike Israel in response to the assassination of Hamas leader Ismail Haniyeh in Tehran.
The rise was also supported by a slowdown in the yield on the US 10-year Treasury note, as the market awaits more evidence about the Federal Reserve’s interest rate cuts this year.
Generally, the direction is trying to be a bullish trend.
Uptrend Side: Currently, the price is trading above 2391 toward 2420 and has a strong bullish trend toward 2420. breaking above this resistance will touch 2431 and above it.
Downtrend Side: The price may descend from the current zone, or after touching the resistance at 2420, it may push the price below 2400 and further down to below 2391.
Tendency Keys: 2420
Gold prices rose in the European market on Thursday for the first time in the last six days, as safe-haven buying of the metal increased amid escalating geopolitical tensions in the Middle East, with Iran preparing to strike Israel in response to the assassination of Hamas leader Ismail Haniyeh in Tehran.
The rise was also supported by a slowdown in the yield on the US 10-year Treasury note, as the market awaits more evidence about the Federal Reserve’s interest rate cuts this year.
Generally, the direction is trying to be a bullish trend.
Uptrend Side: Currently, the price is trading above 2391 toward 2420 and has a strong bullish trend toward 2420. breaking above this resistance will touch 2431 and above it.
Downtrend Side: The price may descend from the current zone, or after touching the resistance at 2420, it may push the price below 2400 and further down to below 2391.
Tendency Keys: 2420
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with best learning
Be Stronger With us
THANKS for your support
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