Here's a breakdown of 15 min the gold chart
Current Situation: Gold price is currently at $2,387.020, up by $22.720 (+0.96%) from the previous close. The 15-minute chart shows a slight upward trend with some volatility. Key levels to watch are: Resistance: $2,420.000 Support: $2,367.675 Analysis: Short-term: The price is currently above the equilibrium level, indicating a potential bullish bias. However, the recent price action has been choppy, suggesting indecision in the market. Medium-term: The overall trend remains bullish, as evidenced by the higher highs and higher lows on the chart. However, the pace of the uptrend has slowed down. News and Trends: USD Weakness: The US dollar has been weakening recently, which tends to support gold prices as it becomes cheaper for investors holding other currencies. Geopolitical Tensions: Ongoing geopolitical tensions can increase gold's appeal as a safe-haven asset. Inflation Concerns: While inflation seems to be cooling down, any resurgence of in...