Watch out the gold!

Hello,

 

For people investing in precious metals, gold will probably be the perfect choice right now. Looking at the weekly behavior of the exchange rate, the gold rate is currently testing a long-term support line in the area of 1260-1270.

 

Fig.1. Technical analysis of gold

 

Interestingly, at the 30-minute interval, the course fights for bottoming the bottom and exit from the current correction with the formation of the ORGR’s inverted head (Fig.2).

 

Fig.2. ORGR formation at an interval of 30 min gold

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