Market analysis
Gold reached a high of 2009 last week and closed at 2006. It is expected to break through to a new high after a correction on Monday. As the conflict escalates, gold has become a safe-haven investment and bulls have exploded. Gold expected to reach 2017.
technical analysis
The support and resistance levels continue to move upward. Gold is suitable for bullish entry near 1997.
Follow-up attention will be paid to the Federal Reserve decision and the non-farm payrolls report.
Trade active
correctionTrade active
Trade active
Note
Gold corrected from 2006 to 1992. It has been hovering around 1999. Waiting to break through 2000 and reach a new high.Trade active
Trade active
Note
The focus this week is also on the Federal Reserve, Bank of England and Bank of Japan. Most markets expect the FOMC to pause its rate hike cycleNote
Gold has strong support levels at 1997, 1993 and 1988. Resistance level 2007 becomes the key rising position
Trade active
Note
1977Trade active
1977 reachedNote
The capital market is waiting for Powell's statement. It will be difficult for gold to break below support and break through resistance before the Fed speaks
Note
1975-1988Trade active
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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.
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.