Greetings, dear friends! Let's dive into today's gold price trends together!
As anticipated, gold continues its subdued trading, still unable to break through the resistance level of $2035. However, it's holding steady, elegantly navigating within a price wedge pattern. We stand at a crossroads, awaiting pivotal market news that could swing the pendulum in one of two directions:
Scenario one: Gold breaks free from the wedge, descending towards the support level at $2017.
Scenario two: Gold surmounts the $2035 resistance, aiming for the current bullish expectation at $2050.
I'm leaning towards scenario one with high anticipation. What about you? Drop your thoughts in the comments below!
As anticipated, gold continues its subdued trading, still unable to break through the resistance level of $2035. However, it's holding steady, elegantly navigating within a price wedge pattern. We stand at a crossroads, awaiting pivotal market news that could swing the pendulum in one of two directions:
Scenario one: Gold breaks free from the wedge, descending towards the support level at $2017.
Scenario two: Gold surmounts the $2035 resistance, aiming for the current bullish expectation at $2050.
I'm leaning towards scenario one with high anticipation. What about you? Drop your thoughts in the comments below!
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Note
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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.
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.