While gold is not seen as a volatile asset, it is also not immune to gains and losses. For this reason, understanding the trends that move the gold price is important for investors who have this popular precious metal in their portfolio.
By understanding gold technical analysis, market participants will have the tools they need to make more informed decisions when trading the yellow metal.
Here the Investing News Network (INN) examines what gold technical analysis is, what tools are used to conduct this analysis and why it can be important for investors who want to gain prosperity in the gold space.
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What is gold technical analysis?
In order to understand why gold technical analysis is important, let’s first break down what it is.
Put simply, technical analysis forecasts price direction through the study of past market data, and it is primarily done by exploring price and volume.
“I think (technical analysis) provides an objective viewpoint, removes the emotion and it gives us an opportunity to really see,” John Roque, managing director of Wolfe Research, told INN. “Especially if we take a longer-term look at the history of the particular item and ask — has it acted like this before, and what has it done when it has acted like this before?”
Roque also explained to INN that technical analysis revolves...
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