NEWS: Gold price is falling -0.5% . Global demand for the commodity continues to slow down, particularly from China.
Possible Scenarios:
If Gold fails to breach through S1 of 1749.51, our Research Department expects the Gold to undergo a short- term upward correction.
If Gold manages to break below its S1 of 1749.51, our Research Department expects the Gold to extend its losses to its S2 of 1744.33
Support and Resistance Levels:
Gold |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1739.16 |
1744.33 |
1749.51 |
1756.40 |
1763.29 |
1768.47 |
1773.64 |
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 = 1.03025
***GBP/USD = 1.19126
Calculations for exchange rate used as of 9:10 (GMT) 25/11/2022