Technical Analysis:
1. Daily Chart (Long-Term Trend)
• Uptrend: Gold has been in a strong bullish trend.
• MACD: Positive and increasing, indicating bullish momentum.
• RSI: 68.44 (approaching overbought, but not yet extreme).
• Price Action: Higher highs and higher lows confirm bullish sentiment.
2. 15-Minute Chart (Medium-Term Trend)
• Uptrend: Price is making higher highs.
• MACD: Positive, confirming bullish short-term momentum.
• RSI: 53.77, showing room for further upward movement.
3. 3-Minute Chart (Short-Term Entry Timing)
• Consolidation/Minor Pullback: Price is stabilizing after a strong move up.
• MACD: Slightly negative, but not showing strong bearish signals.
• RSI: 42.75, suggesting that price could bounce from a small dip.
Fundamental Analysis:
• Gold has been rallying due to inflation concerns, geopolitical risks, and potential rate cuts by the Federal Reserve.
• The weaker USD and strong institutional demand for safe-haven assets support a bullish outlook.
Position: Long (Buy Limit)
• Entry: $2795.00
• Stop Loss (SL): $2785.00
• Take Profit (TP): $2815
1. Daily Chart (Long-Term Trend)
• Uptrend: Gold has been in a strong bullish trend.
• MACD: Positive and increasing, indicating bullish momentum.
• RSI: 68.44 (approaching overbought, but not yet extreme).
• Price Action: Higher highs and higher lows confirm bullish sentiment.
2. 15-Minute Chart (Medium-Term Trend)
• Uptrend: Price is making higher highs.
• MACD: Positive, confirming bullish short-term momentum.
• RSI: 53.77, showing room for further upward movement.
3. 3-Minute Chart (Short-Term Entry Timing)
• Consolidation/Minor Pullback: Price is stabilizing after a strong move up.
• MACD: Slightly negative, but not showing strong bearish signals.
• RSI: 42.75, suggesting that price could bounce from a small dip.
Fundamental Analysis:
• Gold has been rallying due to inflation concerns, geopolitical risks, and potential rate cuts by the Federal Reserve.
• The weaker USD and strong institutional demand for safe-haven assets support a bullish outlook.
Position: Long (Buy Limit)
• Entry: $2795.00
• Stop Loss (SL): $2785.00
• Take Profit (TP): $2815
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.
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.