๐XAUUSD (Gold/USD) Analysis โ September 22, 2024
๐จ Price Update: Gold is currently trading at $2622.18, nearing recent highs at $2625.75 after a sharp rise.๐
๐ Key Levels:
Resistance:
$2625.75๐ด โ Major resistance; this is the current high where sellers may re-enter.
$2650๐บ โ Next potential level if bulls continue the momentum.
Support:
$2567.27๐ข โ Key support where buyers previously stepped in.
$2550.00๐ก โ If price retraces, expect this level to act as secondary support.
$2471.86๐ด โ Significant support; if price falls further, a sharper decline may occur.
๐ Volume Profile:
Heavy trading around $2567.27, suggesting strong buyer interest in this area.
Low volume below $2515.72, which could lead to a quick drop towards $2471.86 if price action weakens.
๐ง What's Next?
If bulls can break above $2625.75, we may see a rally towards $2650.
However, if price stalls or fails to hold above $2567.27, expect a potential retracement towards $2515.72.
๐ News this week:
Time Zone - Sydney, Australia UCT + 10
Mon, Sep 23, 2024 11:45 PM USD Red Flash Manufacturing PMI
Mon, Sep 23, 2024 11:45 PM USD Red Flash Services PMI
Wed, Sep 25, 2024 12:00 AM USD Red CB Consumer Confidence
Thu, Sep 26, 2024 10:30 PM USD Red Final GDP q/q
Thu, Sep 26, 2024 10:30 PM USD Red Unemployment Claims
Fri, Sep 27, 2024 10:30 PM USD Red Core PCE Price Index m/m
๐จ Price Update: Gold is currently trading at $2622.18, nearing recent highs at $2625.75 after a sharp rise.๐
๐ Key Levels:
Resistance:
$2625.75๐ด โ Major resistance; this is the current high where sellers may re-enter.
$2650๐บ โ Next potential level if bulls continue the momentum.
Support:
$2567.27๐ข โ Key support where buyers previously stepped in.
$2550.00๐ก โ If price retraces, expect this level to act as secondary support.
$2471.86๐ด โ Significant support; if price falls further, a sharper decline may occur.
๐ Volume Profile:
Heavy trading around $2567.27, suggesting strong buyer interest in this area.
Low volume below $2515.72, which could lead to a quick drop towards $2471.86 if price action weakens.
๐ง What's Next?
If bulls can break above $2625.75, we may see a rally towards $2650.
However, if price stalls or fails to hold above $2567.27, expect a potential retracement towards $2515.72.
๐ News this week:
Time Zone - Sydney, Australia UCT + 10
Mon, Sep 23, 2024 11:45 PM USD Red Flash Manufacturing PMI
Mon, Sep 23, 2024 11:45 PM USD Red Flash Services PMI
Wed, Sep 25, 2024 12:00 AM USD Red CB Consumer Confidence
Thu, Sep 26, 2024 10:30 PM USD Red Final GDP q/q
Thu, Sep 26, 2024 10:30 PM USD Red Unemployment Claims
Fri, Sep 27, 2024 10:30 PM USD Red Core PCE Price Index m/m
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.
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.