Gold Pauses After Record High – Key Support and Resistance Level

7 gün önce

After reaching a new all-time high on Thursday, Gold has entered a consolidation phase again, fluctuating within a range of 2,920 to 2,940. This period of consolidation suggests that the market is pausing before deciding on its next move.

The overall trend remains bullish as long as the 2,920 support level holds. A decisive breakout above 2,940 could signal renewed upward momentum, potentially leading to a fresh all-time high.

However, if gold breaks below 2,920, it could trigger a deeper correction, with the next significant support level around the 2,850 zone. In this scenario, sellers may gain temporary control, pushing prices lower before the market finds stability.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.

7 gün önce

İşlem aktif

After breaking the 2940 range resistance, xauuad is making a new ATH