Intraday Chart - XAU/USD
Gold Aims for a Breakout!
Gold has staged a robust recovery from the 200-day moving average (200dma) earlier this month. The 200dma also aligns with a 38% retracement level of the October range, serving as a key support. Given the shallow retracement and the fact that the gold market is trading reminiscent of 2010 (where price speculators may be eyeing a specific $2,000 level), the risk appears to be skewed towards an extended 127% expansion by 2035, followed by a 161% expansion by 2064.
Gold has staged a robust recovery from the 200-day moving average (200dma) earlier this month. The 200dma also aligns with a 38% retracement level of the October range, serving as a key support. Given the shallow retracement and the fact that the gold market is trading reminiscent of 2010 (where price speculators may be eyeing a specific $2,000 level), the risk appears to be skewed towards an extended 127% expansion by 2035, followed by a 161% expansion by 2064.
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