Hi All
Gold remains bullish and could update its all-time high as part of subwave 5 within wave 5 of a higher degree.
With a stop-loss around 3000, we can expect a price movement toward the 3100-3160 zone.
Using various Fibonacci extensions, we can estimate that gold’s potential target is around 3160, and under certain fundamental conditions, the price could even reach 3250. This scenario is possible if subwave 5 extends, which aligns with the current market environment.
However, it’s important to remember that this is the fifth wave, meaning traders should exercise extra caution. We are already seeing large players reducing their long positions, but as we mentioned in previous posts, this does not indicate a trend reversal—it’s just profit-taking for now.
Fundamental factors continue to support gold, particularly due to the economic uncertainty caused by Trump’s policies. Gold remains a key safe-haven asset for investors.
🔍 Technical Outlook:
Indicators are showing divergence between the peak of wave three and the current upward movement. Momentum is now below February levels, suggesting that the trend may be entering its final stage.
Gold remains bullish and could update its all-time high as part of subwave 5 within wave 5 of a higher degree.
With a stop-loss around 3000, we can expect a price movement toward the 3100-3160 zone.
Using various Fibonacci extensions, we can estimate that gold’s potential target is around 3160, and under certain fundamental conditions, the price could even reach 3250. This scenario is possible if subwave 5 extends, which aligns with the current market environment.
However, it’s important to remember that this is the fifth wave, meaning traders should exercise extra caution. We are already seeing large players reducing their long positions, but as we mentioned in previous posts, this does not indicate a trend reversal—it’s just profit-taking for now.
Fundamental factors continue to support gold, particularly due to the economic uncertainty caused by Trump’s policies. Gold remains a key safe-haven asset for investors.
🔍 Technical Outlook:
Indicators are showing divergence between the peak of wave three and the current upward movement. Momentum is now below February levels, suggesting that the trend may be entering its final stage.
Trade closed: target reached
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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.
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.