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Message: [QUOTE="Resolve, post: 197909, member: 29339"] [B]Gold Price and Crude Oil Price Eye Additional Gains[/B] [IMG]https://i.postimg.cc/G37qmLHw/oil-and-dollars.jpg[/IMG] [B][I]Gold price started a fresh increase above the $1,820 resistance. Crude oil price is also rising and it is showing positive signs above $70.00.[/I] Important Takeaways for Gold and Oil[/B] [LIST] [*] [*]Gold price started a fresh upward move after forming a base above $1,780 against the US Dollar. [*]There was a break above a key bearish trend line with resistance near $1,805 on the hourly chart of gold. [*]Crude oil price also gained pace and it broke the key $70.00 resistance zone. [*]There is a major bullish trend line forming with support near $72.30 on the hourly chart of XTI/USD. [/LIST] [B]Gold Price Technical Analysis[/B] This week, gold price formed a decent support base above the $1,792 zone against the US Dollar. The price started a fresh upward move and it surpassed the $1,800 resistance zone. The price even settled above the $1,820 level and the 50 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $1,805 on the hourly chart of gold. [IMG]https://i.postimg.cc/hv5ryrHP/gold-price-chart-2.png[/IMG] Finally, the price spiked above the $1,830 resistance and it traded as high as $1,832 on FXOpen. The price is now consolidating gains near $1,828. An initial support on the downside is near the $1,823 level. It is near the 23.6% Fib retracement level of the upward move from the $1,793 low to $1,832 high. The first major support is near the $1,818 level. The main support is now forming near the $1,810 level and the 50 hourly SMA. The 50% Fib retracement level of the upward move from the $1,793 low to $1,832 high is also near $1,812. If there is a downside break, the price could test the $1,790 support. An immediate resistance on the upside is near the $1,832 level. The first major resistance is near the $1,840 level. If the price breaks the $1,840 level, it could accelerate higher. In the stated case, the price could rise towards the $1,850 zone. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]

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