Gold Price Forecast – Double Top Breakout, Bullish Signal In Play!
Posted Tuesday, June 1, 2021 by
MARKETS TREND
The market trend factors in multiple indicators, including Simple Moving Average, Exponential Moving Average, Pivot Point, Bollinger Bands, Relative Strength Index, and Stochastic.
During Tuesday’s Asian trading hours, the safe-haven metal price succeeded in extending its heavy run-up of the previous day, remaining unstoppable while hitting fresh five-month highs around the $1,915 level on the day. However, the prevalent bullish bias was mainly promoted by ever-increasing tensions between China and Western friends, including Australia and New Zealand, which is putting some downside pressure on the global equity market and contributing to the safe-haven gold gains.
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