gold forecast today , Prices Surge Following US Attack on Iranian General

gold forecast today , Prices Surge Following US Attack on Iranian General

gold forecast today , Prices Surge Following US Attack on Iranian General

 
gold forecast today Gold prices surged on Friday following President Trump’s decision to order an airstrike that killed a strong Iranian leader . The preemptive action put pressure on riskier assets as Tehran vowed to avenge the death of General Qassem Soleimani
gold forecast today The action is probably going just the start of geopolitical tensions which will escalate within the region. Gold prices are likely to still experience upward momentum as volatility within the capital markets rises

Gold prices surged and tested the target resistance near the September highs at 1,535. The weekly charts on gold prices are poised to interrupt out. Short term support is seen near the 10-day moving average at 1,507. The 10-day moving average recently crossed above the 50-day moving average which shows that a brief term up trend is now in situ . Weekly momentum is positive because the MACD (moving average convergence divergence) index generated a crossover buy signal

gold forecast today

gold forecast today

gold forecast today This occurs because the MACD line (the 12-week moving average minus the 26-week moving average) crosses above the MACD signal line (the 9-week moving average of the MACD line

The daily RSI (relative strength index) is now printing a reading of 82, rising from 77 which reflects accelerating positive momentum. The RSI is above the overbought trigger level of 70, and also points to a possible future correction
gold forecast today Tensions reverberated through the center East on Friday, with Tehran vowing to avenge the death of General Qassem Soleimani and its allies in Iraq pressing to expel US troops from the country

 Iraqi Prime Minister Adel Abdul-Mahdi condemned the overnight strike, calling it a flagrant breach of the terms underwriting the presence folks forces within the country

 gold forecast today The strike also killed Abu Mahdi al-Mohandes, the deputy head of the favored Mobilization Forces, which is an umbrella for dozens of militias that are a part of the Iraqi security apparatus but include factions that swear allegiance to Iran’s supreme leader