NEWS: Gold price increased 1.1%. Gold price increased as risk sentiment toward the commodity improved, as global geopolitical tensions remain high.
Possible Scenarios:
If Gold fails to breach through R2 of 2333.47, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R2 of 2333.47, our Research Department expects Gold to extend its gains to its R3 of 2346.15.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2261.65 |
2274.33 |
2287.00 |
2303.90 |
2320.80 |
2333.47 |
2346.15 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.57 |
(+/-) £80.56 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.06871
***GBP/USD = 1.24134
Calculations for exchange rate used as of Tuesday, April 23, 2024, GMT+1 14:55h