GOLD → Retest of 2926 before a possible breakout. CPI ahead

Gold is rising after long-squeeze and consolidating at the top of the 2926 - 2893 range, which is generally a hint that the market is getting ready to break resistance. But it all depends on CPI

GOLD → Long-sqeeze (double bottom) before breakout 2926

Traders awaiting US CPI data. The dollar is partially recovering before the news, which is holding back gold, which continues to consolidate in front of 2921, but weak inflation data may push prices up again.
New trade measures as part of Trump's tariff war and geopolitical tensions are having an additional impact. The negative part for the markets presents the lack of a clear position of the leaders of the countries and constantly changing opinions: then they specify tariffs, then cancel them. Inadequate swings in the markets.

Resistance levels: 2920, 2926
Support levels: 2910, 2905, 2893

Emphasis on 2926, breakdown of this level will trigger a bullish rally. Now the price is trying to get out of the local consolidation to test 2926, from which a small correction is possible before another breakout. The focus on CPI, weak data may support further price growth.

Regards R. Linda!

Trade active

A resistance breakout is forming

Trade closed: target reached

We have reached the primary target of 2942 and are forming a false breakdown.
If there is no deep pullback and the price returns to resistance, and the bulls are able to hold the defense above 2942, gold will head towards ATH with the aim of updating the high

RLinda

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