Gold- Ready for 2500
Yesterday, XAU/USD broke back above the 2390 technical resistance and the significant 2400 level, closing the day on a strong bullish note at 2410.
This price action suggests that the correction is over and bulls are ready to conquer new highs.
At the time of writing, the price is at 2421, with technical resistance at 2430. Given the recent rise, a correction from that level could occur.
However, it is very risky to sell at this resistance considering the strong bullish momentum.
In my opinion, it is better to wait and buy on dips. An ideal level for buying is around the 2400 zone, but given the strong bullish momentum, the price might not drop that low.
In conclusion, I am looking to buy during corrections trying to time my entries as the market flows.
This price action suggests that the correction is over and bulls are ready to conquer new highs.
At the time of writing, the price is at 2421, with technical resistance at 2430. Given the recent rise, a correction from that level could occur.
However, it is very risky to sell at this resistance considering the strong bullish momentum.
In my opinion, it is better to wait and buy on dips. An ideal level for buying is around the 2400 zone, but given the strong bullish momentum, the price might not drop that low.
In conclusion, I am looking to buy during corrections trying to time my entries as the market flows.
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📈 Forex & XAU/USD Channel:
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💎 Crypto Channel:
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