Gold/U.S. Dollar extended its run claiming two more targets and eyes 1655.00

Denis Joeli Fatiaki Independent Analyst

The precious metal has extended its run claiming two more targets at 1630.00 and 1640.85 towards the end of last week's session an increase of approximately 4% in the week's trading session. Gold prices were last traded at 1643.15 just above 1640.85 and could continue to its next target at 1655.00 if it holds at the current support.

However, I think gold prices have entered a new trend based time zone, which could lead to a temporary pullback before continuing to the upside. The price level to watch in the next five trading session is estimated at around 1655.00 resistance and 1640.85 support.

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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