Long

GOLD → Distribution phase. One step away from $3000. Up!

breaks upward and reaches the intermediate target. After strong growth there is no pullback at all. A consolidation is forming which shows us strong levels.

GOLD → Testing ATH. High chance of a breakout 2954

Gold updates ATH to +2990, preparing to overcome $3,000. Growth is being fueled by Trump's trade war and expectations of a Fed rate cut. Investors are cautious ahead of the Fed meeting. A stronger dollar and hopes for a US-Canada trade truce may temporarily cause a correction, but it is not the strongest factor. However, recession risks and escalation of trade and geopolitical conflicts may increase demand for protective assets, supporting the growth of gold prices
Technically, the price is in consolidation, relative to which there may be a breakthrough of resistance and further growth. Or a local false breakout, correction to support at 2980 and continuation of growth after support retest

Resistance levels: 2993, 3000, 3008
Support levels: 2981, 2956

Thus, if the bulls are able to consolidate above 2993, the price may continue its aggressive growth.
BUT! There is a possibility of correction to the risk (liquidity) zone 2981 - 2977 before gold resumes its growth.

Regards R. Linda!

RLinda

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