GOLD → Consolidation at bullrun. Shall we update ATH?

Updated
XAUUSD is forming the lower boundary of consolidation within the local correction. False breakdown of MA-50 and support at 2713 activate buying. Bulls are aggressively buying gold at every opportunity

GOLD → Realization continues, risks increase!


Uncertainty around the US presidential election, market caution ahead of key US earnings reports are reviving demand for traditional safe-haven gold. In terms of the upcoming interest rate cut, the market has probably already resigned itself to the most likely 0.25% cut. Also, we continue to monitor the difficult economic environment in the markets of China... The Middle East conflict is still at the same level, with no signs of escalation or de-escalation, but it should not be overlooked.
The metal is forming a sideways range of 2739 - 2713 - consolidation. A primary retest of resistance could trigger a correction to 2728, or deeper, but with a high probability, gold could continue to rise

Resistance levels: 2739, 2750
Support Levels: 2728, 2713


Price may test the ATH in the near term. If the bulls break the resistance and hold the defense above 2739, gold may continue to rise.
If a bounce or false breakout is formed, the price may test the nearest support. Next, we need to watch for a reaction. If gold will return to retest 2739, then the chances of a breakout and further growth will grow!

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)


Regards R. Linda!
Trade closed: target reached
Target 1 (2750) reached!
Chart PatternsconsolidationdistributionDXYFibonacci RetracementFLATFundamental AnalysisGoldSupport and ResistanceTrend AnalysisXAUUSDZigzag

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