Jin10 data reported on October 8, LPL Financial analyst Adam Turnquist stated that from a Technical Analysis perspective, the “pump” of gold continues. The chief technical strategist pointed out that the $4000 per ounce mark is close to the resistance level of the upper band of the long-term rising price channel. Turnquist specifically mentioned that if gold prices break through this channel, it will constitute a bullish signal, indicating that the current accelerated upward trend is likely to continue. However, if it fails to break through the resistance level, it suggests that the “pump” of gold may need to pause or experience a pullback. Turnquist further stated that if the breakout fails, gold prices will first gain support from the 20-day moving average.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
