3500! Gold price returns, buying power remains

581
⭐️GOLDEN INFORMATION:

Gold (XAU/USD) regained momentum in Asian trading Monday, climbing to a fresh five-month high near $3,470 as dovish Fed expectations overshadow profit-taking. Recent U.S. inflation data strengthened bets on a September rate cut, while last week’s upbeat GDP and jobless claims reports briefly supported the Dollar, capping bullion’s gains.

⭐️Personal comments NOVA:

Bulls dominate, strong bullish momentum. Gold price waiting to return to ATH 3500

⭐️SET UP GOLD PRICE:

🔥SELL GOLD zone: 3498- 3501 SL 3505
TP1: $3490
TP2: $3480
TP3: $3470


🔥BUY GOLD zone: $3446-$3444 SL $3439
TP1: $3458
TP2: $3470
TP3: $3480


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

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.