NEWS: Gold price is rising 1.5%. Gold prices are rising sharply, as investors flock to gold amid the ongoing banking crisis.
Possible Scenarios:
If Gold fails to breach through R2 of 1963.43, our Research Department expects the Gold to undergo a short- term downward correction.
If Gold manages to break above its R2 of 1963.43, our Research Department expects Gold to extend its gains to its R3 of 1975.94.
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1892.54 |
1905.05 |
1917.56 |
1934.24 |
1950.92 |
1963.43 |
1975.94 |
Potential Profit or Potential Loss Calculations:
1 dollar per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €94.05 |
(+/-) £82.27 |
*1 trading lot is equivalent of 100 units
**EUR/USD = 1.06325
***GBP/USD = 1.21554
Calculations for exchange rate used as of Friday, March 17, 2023, GMT 15:00h