In the previous analysis it was stated that 2,700$ could be a local top for Gold before heading for a correction. In fact the highest high for Gold was 2,685.64$ before dropping to 2,604.3$ where it touched the ascending dashed trendline.
Technical and Geopolitical factors pushed Gold to higher levels once again. Having set a new ATH, Gold is probably making its final rise before a significant mid-term correction which will probably last for at least a few months!
This scenario was also shown in the previous analysis. For the upcoming week, Gold is expected to retest the 2,690$ broken zone before rising towards higher levels of 2,740$ - 2,770$ and 2,830$ zone
Please be advised that the current rise is probably the final rise before a significant mid-term correction takes place. We can't exactly call the top, yet it's obvious that the major top is indeed close.
Technical and Geopolitical factors pushed Gold to higher levels once again. Having set a new ATH, Gold is probably making its final rise before a significant mid-term correction which will probably last for at least a few months!
This scenario was also shown in the previous analysis. For the upcoming week, Gold is expected to retest the 2,690$ broken zone before rising towards higher levels of 2,740$ - 2,770$ and 2,830$ zone
Please be advised that the current rise is probably the final rise before a significant mid-term correction takes place. We can't exactly call the top, yet it's obvious that the major top is indeed close.
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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.