24K99 News On Friday (May 24), the spot gold rebounded in the short term at the end of the Asian market, Gold price Currently located near $2337/oz. The famous financial information website Economies.com wrote a new article on Friday to analyze the prospects of gold technology in the day.
According to Economies.com, the gold price has reached its second target price of 2340.10/ounce. However, if it returns to above this level, the short view of gold price may be reversed in the short term Turn.
(Screenshot source: Economies. com)
On Thursday, spot gold closed sharply lower by $50.16, or 2.11%, at $2328.41 per ounce.
Economies.com wrote in the article that the gold price closed below 2340.10 dollars/ounce yesterday, which indicates that gold will continue to be a correction bearish trend. The next main target of gold price is expected to be 38.2% Fibonacci retreating to 2272.06 dollars/ounce.
Economies.com said that from the four hour chart of gold, the price of gold is expected to fall further in the next few trading hours due to the bearish pressure formed by the 50 cycle index moving average (EMA). However, once the gold price breaks through 2340.10/oz, it may indicate a reversal and try to return to the main bullish trend.
Economies.com expects that gold price trading today will be between the support level of $2305.00/ounce and the resistance level of $2345.00/ounce.
Economies.com said that the expected trend of gold price today is bearish.
At 13:42 Beijing time, spot gold was at 2337.30 US dollars/ounce.
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