GOLD → The safe asset continues to be bullrun ↑

24 Eyl

XAUUSD does not react properly to the growth of the dollar. The metal continues to renew highs and seeks upward. There is no resistance ahead and the geopolitical backdrop is blowing a favorable wind....



Gold is holding near an all-time high as buyers refuse to give up amid recent Fed comments, China's stimulus (China's Central Bank today announced an unprecedented blitz of support for the economy) and escalating geopolitical tensions in the Middle East.

• China is the world's top consumer of the yellow metal
  
• The gold price tends to benefit from geopolitical tensions due to its traditional safe-haven status.
  
• Also, the Fed will continue to hint at another 0.5% rate cut
  

Resistance levels: 2634, 2640
Support levels: 2623, 2614, 2602

The general background hints at an active continuation of the growth. If gold will consolidate above the maximum of the previous day, then in the mid (short) term we should consider the continuation of growth to 2650-2660-2675. It is not excluded that there may be a correction before further growth due to the approaching important news...

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

24 Eyl

İşlem aktif

24 Eyl

İşlem kapandı: hedefe ulaştı

Target 1 reached!

25 Eyl

İşlem aktif

Good bullrun.
Gold moves based on fundamental (political and geopolitical) data

25 Eyl

İşlem aktif

! UPDATE !



GOLD updates highs to 2670. The strongest rally in recent times. Support of Chinese markets, escalation of the conflict in the Middle East increases the interest in the metal from the buyers...

Traders are waiting for tomorrow's news: Durable Goods Orders, GDP, Initial Jobless Claims & FED Chair Powell Speaks. People are waiting for the US GDP figures and Powell's comments. If there are contradictory hints about the US economy, the market may panic, profit-taking and correction, but with the escalation of the conflict in the Middle East, as well as a slight revival of the Chinese markets, the gold continues to feel support.
Technically, the price can continue to rise for a long time, but you have to be careful (I already said about the lack of any history on the chart). A correction to 0.5-0.7 Fibo is possible, which may be followed by a pullback and continuation of growth.

Resistance levels: 2664, 2675
Support levels: 2649, 2646, 2637, 2734

At the moment it is necessary to be very careful. This morning the deepest correction in the last 5 days was formed, if the market starts to panic and the price goes deeper to the support, in that case the price may reach 2635-2625-2615 before further upside. If the bulls hold 0.5 fibo, then we should consider a rise to 2664-2675.

Regards R. Linda!

25 Eyl

İşlem aktif

A sideways flat is forming. The price closes in the range of 2670 - 2650.
Emphasis on the boundaries of this accumulation....

25 Eyl

İşlem aktif

26 Eyl

İşlem aktif

Consolidation continues. But the movement on H1 looks quite calm and focused on the continuation of growth. In any case, the emphasis on the range boundaries....