GOLD ATH AFTER ATH, WHAT IS THE NEXT?
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XAUUSD
Gold surges 0.98%, reaching $2,721 due to geopolitical tensions, US election concerns, falling Treasury yields, and weakening US Dollar. Analysts predict continued gold gains within 6-12 months.
Gold price surges above $2,700, with resistance at $2,750 and $2,800. Gold's first resistance is $2,750. GOLD IS EXPECTED to make a pullback from ATH below $2,700, a pullback could occur, with support at $2,696.
XAUUSD Gold surges 0.98%, reaching $2,721 due to geopolitical tensions, US election concerns, falling Treasury yields, and weakening US Dollar. Analysts predict continued gold gains within 6-12 months.
Gold price surges above $2,700, with resistance at $2,750 and $2,800. Gold's first resistance is $2,750. GOLD IS EXPECTED to make a pullback from ATH below $2,700, a pullback could occur, with support at $2,696.
Note
Dear Traders
Greetings
I would like to give some additional aspect of analysis:
there will be a strong Resistance between 2,733 to 2,735, if this zone broken and closes a one hour candle above 2,735 then next expected move will be 2,741 to 2,751 according to RTL. (this scenario is unrealistic just you need to take it into consideration incase for strengthen in geopolitical tensions in coming hours).
Once the precious metal rises to 2,730 to 2,735 zone then make a pull back to 2,696 to 2,700 zone. In this zone an extra cautious is required.
Here is the Two scenario:
1st One: if fails to break 2,690 and closes 4hr candle below it.
May be this time moves up and recording another ATH at 2,750 zone and above.
2nd One: If could break 2,690 zone and create a 4hr candle below this point
Then next expected move will be 2,660 to 2,670.
Please DO NOT RUSH and always follow RISK MANAGEMENT STRATEGIES.
Good Luck wish you all next profitable week.
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