Gold meets resistance at 3,440 on Friday, despite a surge in geopolitical risks amid the Iran-Israel war. We expect the market to have a correction before rising to all-time highs.
The ideal ATH level is 3,650
What we want to see to achieve ideal level ?
If the market reverses sharply after breaking 3,500, all the above scenarios will be invalid and a false breakout pattern will occur.
Fundamental level that you should pay attention:-
The ideal ATH level is 3,650
What we want to see to achieve ideal level ?
- The market rebounded from the POI level driven by a strong bull signal.
- The market break and retest the last high at 3,500.
If the market reverses sharply after breaking 3,500, all the above scenarios will be invalid and a false breakout pattern will occur.
Fundamental level that you should pay attention:-
- The Federal Reserve’s interest rate decision will be announced next week, and investors expect Powell to keep interest rates unchanged.
- The Iran-Israel war could intensify geopolitical risks in the Middle East. If tensions escalate further, we expect gold price to surge.
- The Federal Circuit will appeal Trump's tariffs as an abuse of presidential power on July 31, 2025
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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.