Gold (XAU) is consolidating in a tight range (2,900–2,903) following a bullish flag pole formation, signaling potential continuation of the uptrend. Key levels to watch:
- Breakout Resistance: 2,903.31 (flag upper boundary). A close above targets 3,000.00 (psychological resistance).
- Support Zone: 2,900–2,880. A breakdown here may invalidate the pattern.
Technical Rationale: The bull flag pattern suggests accumulation after a sharp rally, with the RSI-neutral price action (+0.03%) indicating balanced momentum. The flag’s proximity to yearly highs reinforces bullish bias if breakout occurs.
Fundamental Catalyst: Macro risks (rate cut expectations, geopolitical tensions) could amplify safe-haven demand, aligning with the technical setup.
Action: Monitor for volume-backed breakout above 2,903.31 for long entries. Tight stop-loss advised below 2,880.
Risk Disclaimer: Trade with managed risk; patterns may fail amid shifting macro drivers.
- Breakout Resistance: 2,903.31 (flag upper boundary). A close above targets 3,000.00 (psychological resistance).
- Support Zone: 2,900–2,880. A breakdown here may invalidate the pattern.
Technical Rationale: The bull flag pattern suggests accumulation after a sharp rally, with the RSI-neutral price action (+0.03%) indicating balanced momentum. The flag’s proximity to yearly highs reinforces bullish bias if breakout occurs.
Fundamental Catalyst: Macro risks (rate cut expectations, geopolitical tensions) could amplify safe-haven demand, aligning with the technical setup.
Action: Monitor for volume-backed breakout above 2,903.31 for long entries. Tight stop-loss advised below 2,880.
Risk Disclaimer: Trade with managed risk; patterns may fail amid shifting macro drivers.
Dagangan ditutup: sasaran tercapai
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join my free Channel
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t.me/GoldUkExpert
t.me/+Jd5ZLmsvF-FkZjg0
Telegram Contact
t.me/GoldUkExpert
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.