GOLD → Testing ATH. High chance of a breakout 2954

in the distribution phase of the previously formed consolidation. The price is testing ATH and the market has all chances for a breakout and further update of the high. We are close to 3K

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

Gold price continues to rise, approaching a record high of $2,956, amid fears of a global trade war. Lower US inflation has weakened the dollar and bond yields, boosting demand for gold. Markets now await PPI data, but escalating trade conflict remains key.
Technically, gold is testing global range resistance a month after last touching it. I don't like to trade primary breakouts in such a case and the ideal scenario would be to wait for a small consolidation near the level or a correction to 2945 - 2935 before the metal starts to tetse 2954.5 for a breakout

Resistance levels: 2954.5
Support levels: 2945, 2935, 2930

As a first move I expect a pullback after resistance test. A retest of 2954.5 (retest) will mean that buyers are ready to break the resistance and go higher.
BUT, we have important news today. Gold could break the level without a pullback. A close above 2954.5 will trigger a rally.

Regards R. Linda!

Trade active

The resistance is broken. Price is testing the first target

Trade closed: target reached

RLinda

🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

Also on:

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.