XAUUSD| GOLD HOLDS ABOVE 2935, EYES 2975HELLO, HAVE A NICE AND PROFITABLE DAYS
Gold prices edged up on Monday to trade near its record peak, helped by a weaker U.S. dollar, while investors looked ahead to a key inflation report due later this week to gauge the Federal Reserve’s interest rate trajectory.
Gold (XAU/USD) remains above the 2935, which is last previous resistance. Buyers are holding control, keeping the bullish trend intact. As long as the price stays above 2935, the next target remains 2975, which is a new high level.
however, a sustained bearish trend will only be confirmed if the price falls below 2935 By closing 4H candle, in which case it is expected to fluctuate between this level and 2908.
If this analysis makes sense to you, let me know in the comments! Also, feel free to share your perspective on the market .