NEWS: Gold price increased 1.0%. Gold prices increased sharply as risk sentiment toward the commodity improved, with the US dollar moving lower.
Possible Scenarios:
If Gold fails to breach through R2 of 2189.81, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R2 of 2189.81, our Research Department expects the Gold to extend its gains to its R3 of 2200.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2132.06 |
2142.25 |
2152.44 |
2166.03 |
2179.62 |
2189.81 |
2200.00 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.38 |
(+/-) £79.26 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.08246
***GBP/USD = 1.26175
Calculations for exchange rate used as of Friday, March 22, 2024, GMT 13:50h