The gold price in the past week experienced a remarkable growth, reaching the highest record ever at 2195. The price trend follows the trend of the year: after touching the convergence zone of 1970-1990, the price has risen strongly and sustainably, surpassing each significant technical level and reaching the convergence zone at 2180, with the highest point being 2195. This demonstrates the superiority and effectiveness of the Technical Convergence Method.
The upward trend this week slowed down due to a decrease in investor enthusiasm. However, the upward momentum is not yet over, so this week gold price are expected to move sideways within a small range around 2160 – 2195. In the short term, the price trend will likely test the 2185 zone and decrease to around the 217x range. This is further reinforced by the direction of the US Dollar index.
As the upward trend is not yet concluded, we will prioritize buying states and balance the volume based on strict capital management methods to optimize profits in this significant opportunity.
Stay tuned for the update next week. Wishing investors wise and successful investment deals.
By. Pham Thanh Bien
