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The chart shows gold quotes before the opening of the trading session on October 31, 2022 on the half-hour (M30) chart.
The support level of the precious metal quotes $1641.50 is the key one in continuing the upward trend.
You should count on the continuation of the upward or downward dynamics from this level.
Thus, we have two scenarios for the development of events:
- gold quotes are gaining price with renewed vigor with $1676.75 as the target, as shown on the chart;
- the support level breaks down and retreats before the quotes of the yellow metal; in this case, the price of $1615-$1610 per troy ounce could become real.
I wish you success!
Relevance up to 08:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
