- U.S. equity markets opened the trading week lower, pulled down by technology shares on concerns about rising inflation and a possible slowdown in the economic recovery from the COVID-19 pandemic.
- The tech-heavy Nasdaq dropped more than 2%, with shares of some of the most-widely held stocks falling sharply. Shares of all the FAAMG companies dipped 2% or more, with Facebook sinking almost 5% after the social media site and its Instagram and WhatsApp sites went down
- Energy company shares were among the top-performing stocks on the S&P 500 as oil rose to its highest level in seven years. Crude topped $78 a barrel following the decision by OPEC+ nations not to boost their previously-planned production output. Gasoline, natural gas, and heating oil all rose more than 2% as well.
The yield on the 10-year Treasury note jumped back up to 1.5% for a short time. It’s now at 1.48%
Gold price forecast – Daily technical levels
Support Resistance
1,753.89 1,777.49
1,739.07 1,786.27
1,730.29 1,801.09
Pivot Point: 1,762.67
#Gold price forecast: Upward trendline supports at $1,754
Gold has been trading at $1,756 per ounce on Tuesday, with a bearish bias. It is currently receiving immediate support at the 1,754 mark, which has been prolonged by an intraday pivot point. Gold breached the pivot point support mark of 1,762, exposing it to the 1,754 support level.
On the downside, a breakthrough at the 1,754 level would open the precious metal to levels of 1,747 and 1,739. On the downside, a break at 1,739 would expose gold to the 1,731 level on the downside. On a positive note, the next resistance level for gold remains at 1,762, and a break at this level would open the precious metal up to the 1,770 level. The RSI and stochastic both support a selling trend in GOLD; therefore, a bearish bias prevails below 1,762 and vice versa.
👉𝐑𝐄𝐆𝐈𝐒𝐓𝐄𝐑 𝐍𝐎𝐖 𝐅𝐎𝐑 𝐃𝐀𝐈𝐋𝐘 𝐏𝐑𝐎𝐅𝐈𝐓𝐀𝐁𝐋𝐄 Forex 𝐒𝐈𝐆𝐍𝐀𝐋𝐒 𝐀𝐍𝐃 𝐔𝐏𝐃𝐀𝐓𝐄𝐒 https://bit.ly/3xYiZ24
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