GOLD → ATH Retest. High chance of breakout and growth to $3K

19 Şub

XAUUSD has again approached ATH 2938 - 2942. This yours increases the chance of resistance breakout and further growth. We are getting closer and closer to $3000

The market maintains recent gains as it awaits the release of minutes from the January Fed meeting and news of Trump's tariff plans. The US President threatened to impose duties on pharmaceuticals and chips, and confirmed the imposition of tariffs on automobiles from April 2, which strengthened demand for defensive assets.
The lack of progress in peace talks between the US and Russia has also supported gold prices. However, traders are cautious ahead of the release of Fed minutes, which could cool expectations of rate cuts this year.
Technically, all eyes are on the conglomerate resistance at 2938 - 2942. A breakdown and consolidation of the price above this area will provoke further growth

Resistance levels: 2938, 2942
Support levels: 2924, 2915

Gold is in local pre-breakdown consolidation 2938 - 2924. Emphasis on these boundaries. Breakout and consolidation of the price above the resistance can provoke continuation of growth. But, before the growth the price may test the nearest support.

Regards R. Linda!

20 Şub

İşlem aktif

After a false breakdown of the key support 2924, gold comes out of the local correction and continues its growth reaching the first target 2950
+270p