16/05/2021
The price of gold rose by about US$14.50 on Friday to US$1,841.24, an increase of 0.80%. This brings the price of gold closer to the high point of the day and also closer to the high point of last week's volatility, which is between US$1841.82 and US$1,845.45.
The price of gold has peaked in this area for 4 consecutive days (starting from last Friday).Thursday is the exception for this week. In the downward correction process, the precious metals did find support buyers near its 200-hour moving average (green line). The short break was expected, and the bears quickly turned to bulls.
Now, as prices return to the ceiling area, the question for the bulls is, what will happen this time?