Looking back last week, we can observe that the gold price has followed the calculated path, showing strong growth towards the resistance zone of 2048-2053, even reaching up to 2062.
As we enter this first week of February, the price trend appears to be ranging and gradually decreasing between the convergence zones of 2048-2053 and 2020-2029. This projection is based on technical convergence methods and the impact of the US dollar index. Therefore, prioritize waiting for sell signals and avoid expecting long-term profits.
Applying a multi-level convergence approach at this point can optimize profits and minimize risks effectively. Stay tuned for the next update on gold price.
Wishing investors always have successful and insightful investment strategies!
By. Pham Thanh Bien
