Gold is forming higher highs while forming an ascending triangle, which will be confirmed if the price of gold closes above the record high of $2,982/oz on a daily basis. If the price of gold breaks the record high, then the price of gold will target the round mark of $2,990/oz. If the buyers conquer the latter, a test of the psychological barrier of $3,000/oz will be inevitable.
The 14-day relative strength index (RSI) is moving higher above 50, supporting the case for further upside in gold prices.
On the other hand, the price of gold has strong support at the 21-day simple moving average (SMA) of $2,914/oz. If the selling pressure intensifies, the price of gold will challenge the ascending trendline support of $2,893/oz. Failure to defend this level will accelerate the decline towards the psychological level of $2,850/oz.
Resistance 2980 2990 3000
Support 2950 2930 2900
As always, we will be updating regularly throughout the day and letting you know how we are managing active ideas and settings. Thank you all for your likes, comments, and attention, we really appreciate it!
The 14-day relative strength index (RSI) is moving higher above 50, supporting the case for further upside in gold prices.
On the other hand, the price of gold has strong support at the 21-day simple moving average (SMA) of $2,914/oz. If the selling pressure intensifies, the price of gold will challenge the ascending trendline support of $2,893/oz. Failure to defend this level will accelerate the decline towards the psychological level of $2,850/oz.
Resistance 2980 2990 3000
Support 2950 2930 2900
As always, we will be updating regularly throughout the day and letting you know how we are managing active ideas and settings. Thank you all for your likes, comments, and attention, we really appreciate it!
Trade active
BUY：2980 $:90 95 98
SELL: 95 $:80 70 50
Trade closed: target reached
At the point where the market closed, the gold price reached the target point perfectly. If you follow my strategy, you will achieve a profit of 10 points.Note
Gold remains volatile near record highs, boosted by rising tariff uncertainty and bets on Fed easingNote
Brothers, the views and trends coincide perfectly. If you want more gold trend signals, click on my link on the right to receive them.
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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.