Accumulate the price before continuing to increase

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) surged to a level not seen in three weeks, reaching around the $1,932-1,933 range on Friday due to the escalating conflict between Israel and Hamas. This led investors to seek safety in traditional safe-haven assets. Additionally, the belief that the Federal Reserve (Fed) is close to ending its cycle of raising interest rates provided further support for the non-yielding precious metal.

However, bulls faced challenges in extending the momentum beyond a significant technical indicator, the 200-day Simple Moving Average (SMA). As a result, combined with higher yields on US Treasury bonds, profit-taking occurred in the gold market, causing a decline during Monday's Asian session. Despite this, the downside appears limited as the US Dollar (USD) remains relatively subdued in terms of price movement.

⭐️Personal comments NOVA:
After last week's strong pump, the price must accumulate before deciding the next trend. We can trade according to the signals below.

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $1903 - $1905 SL $1897
TP1: $1910
TP2: $1920
TP3: $1932

🔥SELL GOLD zone: $1930 - $1928 SL $1936
TP1: $1925
TP2: $1918
TP3: $1910

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest