This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The precious metal is up over 1.2% intraday on Thursday. The gains came just a day after price action was bearish.
But the current gains still keep price action confined within the previous session’s highs and lows.
For the moment, a technical double bottom pattern looks to have formed near 1696.86.
A breakout above 1746 – 1747 will potentially trigger further gains in the medium term.
This gives the upside target to $1800 an ounce, which remains the broader market consensus.
The post Gold prices rebound, rising over one percent on the day appeared first on Orbex Forex Trading Blog.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.