Where Did You Gold? Gold Bears Targeting Psychological $1,800

Source: economies.com

The yellow metal dropped to the lowest in two weeks the previous day before bouncing off to $1,819. With the release of the Covid-19 vaccine in the U.S., traders optimism toward the financial market. Investors are hoping for the economic recovery brought by this, and the price of gold eases from $1,830 to $1,828.30 during the early Asian trading on Tuesday.

The gold price currently at solid support level of $1820.00. The gold price had once tested the resistance level of $1833.00 and broke this level, but still it bounced back below to this level again.

As long as the gold price remains below the resistance level of $1,833.00, it is still predicted that the price of gold will be bearish in the next few trading days.

FOLLOWME Overall Sentiment (As of 10:50 a.m.)

As shown above, the overall sentiment of FOLLOWME traders in this symbol leans towards short-selling with a ratio of 51.94% while the rest of 48.06% is long position.