Gold has been the biggest runner in Q1, 2025, pulling in much capital from institutional investors, which was seen in a form of growing open interest for GC futures and increasing net position of commercial traders in Commitment of traders report.
Technically, it might have reached the problematic area for growth: the upper boundary of the Bollinger Bands indicator, with the price action being exhausted at $3050 area.
Price is locked in a narrow coil on the 4-hour chart - a small head-and-shoulders formation: should the price retest the middle area of this formation and fails to proceed higher, it might give a decent opportunity for a short position with a limited risk. Though, it’s a counter-trend situation, so be careful and protect your position at all times!
Technically, it might have reached the problematic area for growth: the upper boundary of the Bollinger Bands indicator, with the price action being exhausted at $3050 area.
Price is locked in a narrow coil on the 4-hour chart - a small head-and-shoulders formation: should the price retest the middle area of this formation and fails to proceed higher, it might give a decent opportunity for a short position with a limited risk. Though, it’s a counter-trend situation, so be careful and protect your position at all times!
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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.