Gold in Distribution Phase – One Step Away from $3000! Up We Go
Dear friends, Ben here!
Gold has broken out of its bullish channel, sparking an impressive surge and currently trading above a key intermediate range. Notably, there has been no pullback following the strong rally. Instead, the market is consolidating—a sign of a solid support zone.
What’s driving gold’s bullish momentum?
-Economic Policy Support: Trade tensions under the Trump administration and expectations of a Fed rate cut continue to fuel gold’s rally.
-Caution Ahead of the Fed’s Speech: Investors are closely watching the Federal Reserve’s statements, as any signals on monetary policy could trigger market fluctuations.
-Economic & Geopolitical Risks: Fears of a global slowdown, trade conflicts, and escalating geopolitical tensions are strengthening demand for gold as a safe-haven asset.
Technical Outlook:
-If gold holds above 2993, we could see further strong upward momentum.
-However, a temporary correction may occur, with the liquidity zone between 2981 – 2977 acting as a key support level before a potential rebound.
Trading Strategy:
Watch price action around 2993—if buyers maintain control, be prepared for another strong rally! However, if the price retraces, the 2981 – 2977 area could present an attractive entry point for long positions.
Best regards, Bentradegold!
Gold has broken out of its bullish channel, sparking an impressive surge and currently trading above a key intermediate range. Notably, there has been no pullback following the strong rally. Instead, the market is consolidating—a sign of a solid support zone.
What’s driving gold’s bullish momentum?
-Economic Policy Support: Trade tensions under the Trump administration and expectations of a Fed rate cut continue to fuel gold’s rally.
-Caution Ahead of the Fed’s Speech: Investors are closely watching the Federal Reserve’s statements, as any signals on monetary policy could trigger market fluctuations.
-Economic & Geopolitical Risks: Fears of a global slowdown, trade conflicts, and escalating geopolitical tensions are strengthening demand for gold as a safe-haven asset.
Technical Outlook:
-If gold holds above 2993, we could see further strong upward momentum.
-However, a temporary correction may occur, with the liquidity zone between 2981 – 2977 acting as a key support level before a potential rebound.
Trading Strategy:
Watch price action around 2993—if buyers maintain control, be prepared for another strong rally! However, if the price retraces, the 2981 – 2977 area could present an attractive entry point for long positions.
Best regards, Bentradegold!
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Penerbitan berkaitan
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.