Hello guys; Today I will talk about the XAU/USD chart (i.e. gold). This is a daily chart and as we could see last week, volatility has increased due to geopolitical factors. We have seen strong shifts in gold, and according to all available information, global uncertainty will last longer than many investors expected. Accordingly, in such times of uncertainty gold has its well-known status of “safe haven”, so we could see the continuation of the bulls in the coming weeks and months. But for now, I suggest you pay attention to the marked area on the chart. This area is 0.618 fib, which coincides with the regular support line and pivot support (since last week). So, if you want to buy gold, maybe this area will be a turning point for bulls.
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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.