Technical
8. Gold Continues Record Highs as the US Dollar Index Declines, Fading Hopes of a Fed Rate Cut_1
Technically, gold is currently consolidating and then accumulating, following a brief decline during the day. This decline appears to be a positive correction, allowing the market to clear some overbought conditions, as indicated by the Relative Strength Index (RSI). Despite short-term volatility, the main uptrend remains in place, and price action suggests a potential recovery.
The price structure shows a clear reversal in the movement, with a potential support zone forming between $3,309 and $3,290. If gold maintains its momentum above $3,327—either through a successful retest or a clear breakout—it could pave the way for a continued rise towards $3,338 and ultimately $3,352. The ultimate upside target at this stage is $3,440, provided momentum is confirmed above key support levels. Trading Recommendations
Buy Gold
Entry Price: 3325
Stop Loss: 3230
Take Profit: 344
8. Gold Continues Record Highs as the US Dollar Index Declines, Fading Hopes of a Fed Rate Cut_1
Technically, gold is currently consolidating and then accumulating, following a brief decline during the day. This decline appears to be a positive correction, allowing the market to clear some overbought conditions, as indicated by the Relative Strength Index (RSI). Despite short-term volatility, the main uptrend remains in place, and price action suggests a potential recovery.
The price structure shows a clear reversal in the movement, with a potential support zone forming between $3,309 and $3,290. If gold maintains its momentum above $3,327—either through a successful retest or a clear breakout—it could pave the way for a continued rise towards $3,338 and ultimately $3,352. The ultimate upside target at this stage is $3,440, provided momentum is confirmed above key support levels. Trading Recommendations
Buy Gold
Entry Price: 3325
Stop Loss: 3230
Take Profit: 344
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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.