Gold has surprised everyone by reaching an all-time high of 3035-3038. I initially expected a reversal from the 2937 level, followed by a move toward the last structural point in the market, a break and retest, and then a continuation to new highs. But as always, gold tends to be unpredictable.
That said, I’ve spotted a third touch on the weekly/daily trendline, which signals a potential reversal—ideally around the New York session. However, as with everything in the markets, nothing is ever 100% certain. Let’s wait and see how the price unfolds from here.
That said, I’ve spotted a third touch on the weekly/daily trendline, which signals a potential reversal—ideally around the New York session. However, as with everything in the markets, nothing is ever 100% certain. Let’s wait and see how the price unfolds from here.
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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.