Jin10 data September 19 news, RHB Retail Research analyst Joseph Chai stated that from the daily chart perspective, gold futures on the New York Commodity Exchange may have entered a consolidation phase. The bearish trend of gold futures on Thursday confirmed that the gold price has formed a strong resistance level at $3700 per ounce. From the relative strength index, the bullish momentum of commodities has slowed down. Therefore, gold futures may pull back near the 20-day simple MA in the upward move.
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Analyst: New York gold futures may enter a consolidation phase
Jin10 data September 19 news, RHB Retail Research analyst Joseph Chai stated that from the daily chart perspective, gold futures on the New York Commodity Exchange may have entered a consolidation phase. The bearish trend of gold futures on Thursday confirmed that the gold price has formed a strong resistance level at $3700 per ounce. From the relative strength index, the bullish momentum of commodities has slowed down. Therefore, gold futures may pull back near the 20-day simple MA in the upward move.