Gold has regained upward momentum. Strategists at Société Générale analyze the yellow metal’s technical outlook.
Gold poised to challenge previous highs at $2,070/$2,075
Gold looks poised to head higher towards the graphical levels of $2,070/$2075 representing highs of 2020 and 2022 and more importantly the upper part of the large sideways range which has been in force for more than three years.
Once Gold overcomes the hurdle at $2,070/$2,075, next leg of uptrend is expected to materialize. Further objectives are located at projections of $2,180 and $2,240.
The 200-DMA near $1,933 is near term support.
Source: FXstreet
