Is Gold in Make or Break Mode Now?

<p>Good day,<br />
Gold is still trying to break the level of 1765.00. Hence, last Friday asset’s price has closed above the resistance. Yet there was no confident breakout so far, therefore, this move might turn out to be a mere bullish trap, which might bring the gold down anytime soon.</p>
<p><img class="alignnone size-large wp-image-46107" src="http://blog.tickmill.com/wp-content/uploads/2020/06/1-24-1024×478.png" alt="" width="1024" height="478" srcset="https://blog.tickmill.com/wp-content/uploads/2020/06/1-24-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/06/1-24-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/06/1-24-768×359.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/06/1-24.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>Oil keeps wondering around the psychological level of 40.00, having closed below this level last week as well. This might only mean that oil is about to target the level of 50.00 quite soon.<br />
Should the asset’s price drop against all the odds, potential pullback might happen at the level of 32.80:</p>
<p><img class="alignnone size-large wp-image-46113" src="http://blog.tickmill.com/wp-content/uploads/2020/06/2-4-1024×478.jpg" alt="" width="1024" height="478" srcset="https://blog.tickmill.com/wp-content/uploads/2020/06/2-4-1024×478.jpg 1024w, https://blog.tickmill.com/wp-content/uploads/2020/06/2-4-300×140.jpg 300w, https://blog.tickmill.com/wp-content/uploads/2020/06/2-4-768×359.jpg 768w, https://blog.tickmill.com/wp-content/uploads/2020/06/2-4.jpg 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p>Let’s also check out what is happening to the offshore Chinese yuan. As it can be seen from the weekly chart, asset’s price is currently in the uptrend, forming a few bullish flags. Now, the asset’s price is also testing the level of 7.05 and forming small hammers. It might signify that the asset might soon jump till the level of 7.19:</p>
<p><img class="alignnone size-large wp-image-46109" src="http://blog.tickmill.com/wp-content/uploads/2020/06/3-10-1024×478.png" alt="" width="1024" height="478" srcset="https://blog.tickmill.com/wp-content/uploads/2020/06/3-10-1024×478.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/06/3-10-300×140.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/06/3-10-768×359.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/06/3-10.png 1094w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
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<p>The post <a rel="nofollow" href="https://blog.tickmill.com/tech-analysis/is-gold-in-make-or-break-mode-now/">Is Gold in Make or Break Mode Now?</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>