Gold rose above 2,150 USD during the European session. Gold's upward momentum has been consolidated after rising above its all-time high set last December, amid positive market sentiment ahead of the prospect of a Fed policy pivot and geopolitical risks. persistent treatment.
On frame D1, the RSI indicator in the overbought zone continues to be a cautious signal for buyers. In the event of a correction in gold prices, immediate support is Wednesday's session bottom at $2,124, with Tuesday's session bottom and the 23.6% Fibo level of the rally from the February 14 bottom to the March 7 peak, followed by 2,111 USD. Breaking through these supports, the decline could extend to $2,100.
On frame D1, the RSI indicator in the overbought zone continues to be a cautious signal for buyers. In the event of a correction in gold prices, immediate support is Wednesday's session bottom at $2,124, with Tuesday's session bottom and the 23.6% Fibo level of the rally from the February 14 bottom to the March 7 peak, followed by 2,111 USD. Breaking through these supports, the decline could extend to $2,100.
Note
SELL gold 2156 - 2158 TP1: 2146
Tp2: 2136
SL: 2168
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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.