Gold has a lot of momentum to increase and could head towards testing the all-time high around 3500 as there are too many risks emerging, from geopolitical developments to interest rate outlook, and tariffs. Major conflicts in the Middle East, Russia - Ukraine, trade war between the US and the rest of the world, ... are all sudden risk support that makes gold likely to surge in the short term.
Gold, after increasing around 3450 this morning, is currently correcting down. But overall, the uptrend with gold is still solid after breaking the downtrend channel. However, we should avoid buying in strong corrections.
The support area around 3400 will be the ideal place for us to BUY today.
And the resistance area 3440 - 3445 will be where we SELL.
Gold, after increasing around 3450 this morning, is currently correcting down. But overall, the uptrend with gold is still solid after breaking the downtrend channel. However, we should avoid buying in strong corrections.
The support area around 3400 will be the ideal place for us to BUY today.
And the resistance area 3440 - 3445 will be where we SELL.
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Related publications
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.