The expected pattern of double top did not formed successfully.
The price is likely to rise testing 1359 - 1366 resistance zone.
One reason for the surging is that the market expects the FOMC deploys a rate cut in the coming meeting.
Once the rumour confirmed accurate, Gold price may see a pullback and then keeps climbing up.
I see the price before the Meeting would not break above previous high which is 1359.
The price is likely to rise testing 1359 - 1366 resistance zone.
One reason for the surging is that the market expects the FOMC deploys a rate cut in the coming meeting.
Once the rumour confirmed accurate, Gold price may see a pullback and then keeps climbing up.
I see the price before the Meeting would not break above previous high which is 1359.
Note
Daily chart now sees a Stochastic divergenceH4 sees a bearish divergence of MACD.
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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.