AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Follow us

SINGAPORE: Spot gold may fall into a range of $1,637-$1,647 per ounce, as suggested by a bearish flag and a projection analysis.

The pattern has been confirmed, indicating a target around $1,610.

The projection analysis reveals a more realistic target zone from $1,637 to $1,647.

Strategically, the target zone will be confirmed when gold breaks $1,654.

A break above $1,669 will make the flag temporarily invalid.

On the daily chart, the consolidation within a range of $1,657 to $1,686 is about to complete by end of this week.

Spot gold targets $1,644-$1,651 range

Most likely gold would fall towards $1,611, as suggested by a flag and a falling channel.

Indeed, the range itself looks like a bearish continuation pattern, to be followed by another round of fall.

Comments

Comments are closed.

Spot gold may fall into $1,637-$1,647 range

Pak diplomat escapes assassination attempt at Kabul

FY22 trade with US soars 38.3pc to $10.5bn YoY, NA told

Nov POL products’ sales down 12pc to 1.55m tons YoY

PM urges Chinese co to invest in renewable energy sector

PM seeks reform plan: Power sector PDM govt’s Achilles heel

SPI down on decrease in food prices: PBS

Import of urea: PPRA refuses to give fresh exemption

OPEC set to stick or cut more amid plan to cap Russian oil price

Muttaqi speaks to Bilawal

US designates four AQIS, TTP leaders as SDGTs