XAUUSD
Gold is currently making a very healthy retracement, which seems to be setting up for a bullish move. Right now, it’s trading around the 2891–2895 range, a key level that could act as a potential launch point for an upward push. However, there’s also a possibility that it could drop further to the 2833–2825 zone, where strong support might trigger a rebound.
This retracement is natural and necessary for the market, allowing it to take a breather before making another big move. Since January, gold has been strongly bullish, but this is the first real cooldown, giving the market a chance to reset before continuing its bullish trend. If buyers step in and defend key support levels, we could see another strong push to the upside.
This retracement is natural and necessary for the market, allowing it to take a breather before making another big move. Since January, gold has been strongly bullish, but this is the first real cooldown, giving the market a chance to reset before continuing its bullish trend. If buyers step in and defend key support levels, we could see another strong push to the upside.
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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.