NEWS: Gold price increased 0.5%. The cautious market mood could offer some support to the safe-haven gold and limit losses.
Possible Scenarios:
if Gold fails to breach through R1 of 1747.84, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 1747.84, our Research Department expects the Gold to extend its gains to its R2 of 1753.63.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1720.80 |
1726.59 |
1732.38 |
1740.11 |
1747.84 |
1753.63 |
1759.42 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.1 |
(+/-) £73.01 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.03643
***GBP/USD = 1.19040
Calculations for exchange rate used as of 14:40 (GMT) 21/11/2022