📊 Technical Analysis
● Chart shows a bullish breakout from the falling wedge into a rising channel. Support near $3,300 held firm, and price is now above the $3,360 pivot, eyeing the $3,430–$3,500 resistance zone. Oscillators on daily chart remain positive, reinforcing the upward bias.
💡 Fundamental Analysis
● Global uncertainty is fueling safe-haven demand: tensions in Ukraine, the Middle East and renewed US-China trade fears are supporting gold.
● A softer US dollar and policy uncertainty also boost bullion; analysts note continued demand keeping prices elevated above $3,000.
● Bank of America highlights that US trade-policy uncertainty will “lend support” to gold prices.
✨ Summary
Upside momentum remains strong, with key support around $3,300–$3,360. Gold’s long bias points toward ~$3,500 in the short term, underpinned by geopolitical risks and a weak dollar.
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● Chart shows a bullish breakout from the falling wedge into a rising channel. Support near $3,300 held firm, and price is now above the $3,360 pivot, eyeing the $3,430–$3,500 resistance zone. Oscillators on daily chart remain positive, reinforcing the upward bias.
💡 Fundamental Analysis
● Global uncertainty is fueling safe-haven demand: tensions in Ukraine, the Middle East and renewed US-China trade fears are supporting gold.
● A softer US dollar and policy uncertainty also boost bullion; analysts note continued demand keeping prices elevated above $3,000.
● Bank of America highlights that US trade-policy uncertainty will “lend support” to gold prices.
✨ Summary
Upside momentum remains strong, with key support around $3,300–$3,360. Gold’s long bias points toward ~$3,500 in the short term, underpinned by geopolitical risks and a weak dollar.
-------------------
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📊 Technical Analysis
● Gold twice bounced at the rising‑channel base and the charted support level $3 315, carving a contracting triangle inside the channel.
● Recovery through the purple resistance line (~$3 410) should carry price to the upper resistance level around $3 500; long bias void on a sustained break below $3 200.
💡 Fundamental Analysis
● US ISM‑services slipped to 49.8 and jobless claims hit 241 k, driving 10‑yr yields <4 % and softening the USD.
● PBoC added gold for an 18‑month streak in April, underscoring steady official demand.
✨ Summary
Channel‑base rebound plus weaker US data and persistent central‑bank buying support a short‑term long: targets $3 410 → $3 500; invalidate under $3 200.
-------------------
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
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Disclaimer
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90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
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.