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Gold Attempts To Establish Support At 1987

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The precious metal made modest gains on Tuesday as prices fell back to the support area near 1987.

As long as this support holds, we could see price action attempting to push higher.

However, note that the lower high could indicate a possible move to the downside. This will make the 1987 support level even more critical.

Below the support, gold prices could start to move lower if they close below the previous swing lows of 1912.

To the upside, price action will need to clear the 2024 level in order to resume the bullish trend.

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Source: https://www.orbex.com/blog/en/2020/09/gold-attempts-to-establish-support-at-1987
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