Gold (XAU): $3700 is the next key resistance
Gold has continued its impressive rally, with $3,700 emerging as the next key resistance level.
The first breakout above the $3,400 psychological zone occurred in late April, followed by a period of consolidation and repeated tests of that level.
Last week, the asset gained strong momentum, breaking decisively above this zone and reaching a new all-time high (ATH) of around $3,500.
This week, the bullish trend has extended further, with XAU/USD approaching the next critical psychological barrier near $3,700.
The key question remains: How much further can ongoing global economic tensions drive gold’s upward movement?
Resistance Level: $3,700
Support Levels: $3,600 / $3,500
Key Zone to Watch: $3,400
📌 This analysis is for educational purposes only. Please exercise caution and trade responsibly.
If you found this helpful, like, follow me, subscribe, share and comment.
Gold has continued its impressive rally, with $3,700 emerging as the next key resistance level.
The first breakout above the $3,400 psychological zone occurred in late April, followed by a period of consolidation and repeated tests of that level.
Last week, the asset gained strong momentum, breaking decisively above this zone and reaching a new all-time high (ATH) of around $3,500.
This week, the bullish trend has extended further, with XAU/USD approaching the next critical psychological barrier near $3,700.
The key question remains: How much further can ongoing global economic tensions drive gold’s upward movement?
Resistance Level: $3,700
Support Levels: $3,600 / $3,500
Key Zone to Watch: $3,400
📌 This analysis is for educational purposes only. Please exercise caution and trade responsibly.
If you found this helpful, like, follow me, subscribe, share and comment.
Nota
$3700 achieved and trailing the ascending trendline acting as resistance
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.