Gold price rallied sharply and broke the $1,350 and $1,400 resistance levels. Similarly, crude oil price gained bullish momentum and broke the $55.00 resistance area.
Gold Price Technical Analysis
Gold price formed a solid support base above $1,350 and recently rallied above $1,380 against the US Dollar. The price gained bullish momentum above $1,390 after the Fed indicated possibilities of a rate cut in the near future.
The recent upward move was strong since the price even broke the $1,400 resistance area and settled above the 50 hourly simple moving average. It climbed towards the $1,415 level and a new monthly high was formed near $1,411 on FXOpen.
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Thread: FXOpen Technical Analysis
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21-06-2019, 08:58 AM #11
Gold Price and Crude Oil Price Rally Significantly
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