Gold Futures Climb on Weaker U.S. Dollar and Rate Cut Optimism
Gold futures have risen by 0.15% to $2,541.8 per troy ounce, after reaching a new record high of $2,549.9 in early Asian trading, driven by ongoing weakness in the U.S. dollar. The precious metal previously hit a record on Friday, supported by favorable economic data from the U.S.
Technical Analysis: Gold
Current Outlook:
The price has experienced a sharp reversal due to the factors mentioned above, sustaining its bullish momentum and nearing a potential all-time high (ATH).
Bullish Scenario:
A correction to 2,493 is expected, but as long as the price trades above this level, the bullish trend should persist, with targets at 2,525.
Bearish Scenario:
For a bearish trend to materialize, the price must stabilize below 2,493, potentially leading to further declines toward 2,484 and 2,475.
Key Levels:
- Pivot Line: 2,500
- Resistance Levels: 2512, 2525, 2535
- Support Levels: 2493, 2484, 2475
Today's Expected Trading Range:
The price is anticipated to fluctuate between 2,475 and 2,525.
Trend: Bullish while above 2,493.
previous idea:
Gold futures have risen by 0.15% to $2,541.8 per troy ounce, after reaching a new record high of $2,549.9 in early Asian trading, driven by ongoing weakness in the U.S. dollar. The precious metal previously hit a record on Friday, supported by favorable economic data from the U.S.
Technical Analysis: Gold
Current Outlook:
The price has experienced a sharp reversal due to the factors mentioned above, sustaining its bullish momentum and nearing a potential all-time high (ATH).
Bullish Scenario:
A correction to 2,493 is expected, but as long as the price trades above this level, the bullish trend should persist, with targets at 2,525.
Bearish Scenario:
For a bearish trend to materialize, the price must stabilize below 2,493, potentially leading to further declines toward 2,484 and 2,475.
Key Levels:
- Pivot Line: 2,500
- Resistance Levels: 2512, 2525, 2535
- Support Levels: 2493, 2484, 2475
Today's Expected Trading Range:
The price is anticipated to fluctuate between 2,475 and 2,525.
Trend: Bullish while above 2,493.
previous idea:
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.