GOLD → Shaking. Going into flat. What's next? for FX:XAUUSD by RLinda

GOLD → Shaking. Going into flat. What's next?

is moving from a local bullish trend to a flat state. Bulls are still protecting strong risk zones. What to expect from the metal next?

Investors are returning to safe-haven assets due to uncertainty over Trump's tariffs and weak U.S. economic data.
Gold pulled back from a record $2,956 on Tuesday on profit taking and due to a drop in Chinese imports. However, a weak U.S. consumer confidence index helped the price recover.
Gold's rise is being held back by a strengthening dollar and bond yields, but trade war fears are supporting demand for the metal

Resistance levels: 2921, 2929, 2942
Support levels: 2905, 2888

Thus, we are forming a flat (sideways range). There is a possibility for a decline, for example, to retest the support 2905 - 2888 before further growth. Or growth and breakdown of resistance.
If the bulls can enter the 2921-2929 zone and keep the defense above this zone, the metal may return to growth.

Regards R. Linda!

RLinda

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