Gold Analysis: Potential Rebound and Drop Ahead
Gold is heading up. The asset rebounded from the supporting level of 1815.00. The price of gold might potentially rebound from the resistance area formed between levels 1900 and 1913 and drop. So, let’s observe if it is likely to happen.
Currently, the American stock index S&Р500 is heading up. It might eventually rebound from the downtrend and horizontal level of 4448, drop, and gain the required support at the level of 4328.
The price of the Canadian dollar rebounded from the resistance level of 1.3695 and dropped. The asset might retest this level, which is located next to the downtrend. It could also test the earlier-formed bullish trap. Only time will tell which scenario is likely to work out.
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