GOLD → Bullish structure. Emphasis on 2955 for FX:XAUUSD by RLinda

GOLD → Bullish structure. Emphasis on 2955

is still in consolidation, but the flat is gradually changing into an ascending triangle structure, which further explains the bullish interest in the market.

GOLD → Price is in consolidation and getting ready to go to $3K

Gold price is consolidating near the record high of $2,956. Investors took a pause before a possible continuation of gains amid renewed trade war fears over Trump's statements on tariffs and controls on exports of Nvidia chips to China.
Weak risk sentiment and a rising dollar are holding back gold, but lower bond yields and expectations of Fed policy easing are supporting prices.
Gold will remain influenced by tariff negotiations and US consumer confidence data in the coming days

Resistance levels: 2940, 2954.5
Support levels: 2930.7, 2921

Local resistance at 2940 is ahead. If the bulls are able to consolidate above this area, we should wait for the growth and the retest of 2954.5.
2954.5 is a trigger, the breakdown of which will provoke the continuation of the bull rally.
But before that the consolidation between 2954 and 2940 may be formed. I don't exclude the flat support retest before further growth.

Regards R. Linda!

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

Also on:

Related publications

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.