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Gold Price and Crude Oil Price Aim Fresh Increase – Analytics & Forecasts – 22 July 2022

Updates Finance by Updates Finance
July 22, 2022
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Support and Resistance – Analytics & Forecasts – 30 January 2023

Gold price started a major decline below the $1,725 support zone. Crude oil price is attempting a fresh increase from the $88.80 support zone.

Important Takeaways for Gold and Oil

· Gold price struggled above $1,740 and declined against the US Dollar.

· Recently, there was a break above a key bearish trend line with resistance near $1,705 on the hourly chart of gold.

· Crude oil price started a downside correction from the $100 and $101 resistance levels.

· There was a break below a major bullish trend line with support near $98.95 on the hourly chart of XTI/USD.

Gold Price Technical Analysis

Gold price struggled to gain pace above the $1,750 resistance zone against the US Dollar. The price started a fresh decline and traded below the $1,725 pivot level.

There was a clear move below the $1,712 support zone and the 50 hourly simple moving average. The price even traded below the $1,700 level and formed a low near $1,680 on FXOpen. It is now correcting losses above the $1,695 level…More  info:  blog  FXOpen 



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