© Archyde.com. Credit Suisse expects gold to collapse near $1450 in this case!
Arabictrader.com – Experts at Credit Suisse Bank indicated that after the release of US inflation data, which came higher than market expectations and led to the decline of gold, it will retreat strongly and may be able to break the strong support between the levels of 1691 and 1676 dollars per ounce, and these data will increase pressure on gold during The next three months at least.
The experts at the Swiss bank continued that breaking the closing below the level of 1.691 dollars or 1676 dollars per ounce would be sufficient to complete a large double top pattern, and with increasing pressures on gold at least during the next 1-3 months, the next support in the event of this peak will be at 1, $618 an ounce, then $1,560, and finally near $1450 or $1440 an ounce.
On the other hand, experts at Credit Suisse explained that any breach of gold prices to the level of 1746 dollars an ounce may indicate a new rise and perhaps the next resistance for prices may be near the level of 1833 dollars an ounce.
A few hours ago, statistics data in the United States showed that US inflation rose again last August, as the US consumer price index rose on a monthly basis by 0.1%, while it was expected to decline by 0.1%, which is higher than the previous reading, which settled at levels Zero during last July, and this data strengthened the demand for and weakened the demand for other havens, especially gold.