After the many fluctuations that gold experienced due to decisions, announcements and press conferences last week. It seems that the current week will be rather calm, except for the announcement of the change in US crude oil inventories. Which will be on Wednesday 6/10/2021 which is likely to affect the dollar.
As a technical analysis, gold is still moving in the descending channel after breaking the ascending channel last month, and after the stimulating news for the dollar last week, gold rose to reach a resistance level at 1764 -1770, from which it is expected to return on a relatively medium term to 1725 as a support line
As a technical analysis, gold is still moving in the descending channel after breaking the ascending channel last month, and after the stimulating news for the dollar last week, gold rose to reach a resistance level at 1764 -1770, from which it is expected to return on a relatively medium term to 1725 as a support line
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