Gold Futures Hit Record High; Key Levels for Next MoveGold Futures Hit Record for Fifth Consecutive Session on Safe-Haven Demand
Gold futures surged to a fresh all-time high (ATH) for the fifth consecutive session amid ongoing geopolitical uncertainty.
Gold Technical Analysis
The price recorded a new ATH at 2877 per ounce and continues to maintain bullish momentum, as we highlighted yesterday from 2833.
Today, a potential retest of 2857 is possible before another upward push. However, if 2857 is broken, the price may decline further toward 2839.
On the other hand, if a 4-hour candle closes above 2870, the price is likely to rise toward 2895 and 2918.
Key Levels
Pivot Point: 2870
Resistance Levels: 2895, 2918, 2937
Support Levels: 2854, 2839, 2823
Trend Outlook
Bullish above 2870
Movement Range: 2870 – 2839
Bearish if the price breaks below 2855
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