Gold Price Forecast: XAU/USD eyes $1,980 on a break above $1,875 – Societe Generale
|Analysts at Societe Generale offer their technical outlook on gold price, with the upside opening up towards $1,980 if the $1,875 barrier is surpassed.
Key quotes
“Gold price is marching towards a multi-month descending trend line near $1,875.”
“A break above $1,875 would denote an extended rebound towards projections of $1,930 and graphical levels of $1,965/$1,980.”
“Daily MACD has entered positive territory which denotes upside momentum is regaining.”
“Upper band of the base near $1,835 and $1,810 are short-term support levels.”
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