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“1917-1920 DOLLAR BAND BROKEN UNDER ONS”
Ergezen said that the sudden rise in the dollar index led to strong sales of all commodities: “We have seen the effect of this on gold prices. Obviously, we can say that the 1917-1920 band has been broken for prices. The selling pressure will continue as long as it remains below this level. “
The critical support below him is broken! Will the decline in gold prices continue?
“SALES MAY CONTINUE UP TO THE LEVEL OF 1792 DOLLARS”
At this point, Ergezen underlined that there is a possibility of continuing sales down to the $ 1792 level, which is the previous sub-band, “There is also channel support going up. This level has reached the level around $ 1870. relaxation to this point, but now it’s 1917-1920. I say the dollar band is broken, “he said.
“THE DOLLAR INDEX PREVENTS THE RECOVERY OF GOLD PRICES”
Stating that physical purchases are needed for gold prices to break above the 1917-1920 dollar band, the expert said: “The continuation of the uptrend of the dollar index is obviously preventing a recovery in gold prices. “.
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