NEWS: Gold price increased 0.5%. Gold steadied around $1965 an ounce on Thursday after falling in the prior two sessions, as investors continued to monitor risks to the global financial system.
Possible Scenarios:
if Gold fails to breach through R1 of 1975.22, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R1 of 1975.22, our Research Department expects the Gold to extend its gains to its R2 of 1983.64.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1935.94 |
1944.36 |
1952.78 |
1964.00 |
1975.22 |
1983.64 |
1992.06 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.25 |
(+/-) £81.13 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08385
***GBP/USD = 1.23219
Calculations for exchange rate used as of Thursday, March 30, 2023, 9:00: AM GMT