SasanSeifi| Will It Break Above the $2685 High?

13 Okt

Hey there, ✌ In the daily timeframe, as seen on the chart XAUUSD, gold's price started an upward movement from the $2300 range and reached a new all-time high (ATH) around $2685. After hitting this peak, the price entered a consolidation phase with a slight pullback that extended to the $2600 area.

Currently, we see that the price has rebounded from the $2600 level due to increased demand, pushing it higher towards $2,657. The medium- and long-term outlook leans towards further upward movement, with potential targets at $2700, $2725, $2750, $2790, and $2,800.

In the daily timeframe, maintaining the support range between $2600 and $2570 is crucial for sustaining the bullish trend. A likely scenario is that if the price stabilizes above $2660 and $2675, it could break the previous high and move toward the mentioned targets, as illustrated in the chart.

To gain a better understanding of the future trend, it's important to monitor how the price performs in the early days of the market. Additionally, if bullish momentum weakens and confirmations appear in lower timeframes, there could be a chance of range-bound movement or a retracement towards the support levels.

This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊

20 Okt

Dagangan aktif

In the latest analysis, the mid-term and long-term outlook suggested a higher price movement towards targets of $2700, $2725, $2750, $2790, and $2800.

In the daily time frame, maintaining the support levels between $2600 and $2570 is crucial for sustaining the upward trend. The likely scenario is that if the price stabilizes above the $2660 and $2675 ranges, we can expect a breakout of the previous high, allowing the price to move toward the specified targets, as indicated in the chart. As observed, the price followed the outlined scenario, breaking the previous high and reaching targets of $2700 and the $2750 price range, resulting in a new price level.

Given the current momentum, the outlook remains bullish, and further growth is possible.

24 Okt

Dagangan aktif

As you can see, the price followed the expected scenario, breaking above the previous high and reaching the target of 2750 and the 2760 range, resulting in a new price level. The outlook remains bullish, and a significant correction is not expected. After hitting the 2750 target, the price encountered a negative reaction, pulling back towards the 2708 range. It is currently trading around 2735. It is anticipated that after some range-bound movement or a slight correction, the price could potentially rise again towards the 2800-2850 range. The key support levels in the daily timeframe are 2700, 2685, and 2650.

27 Okt

Dagangan aktif

From an analytical perspective, the previous report remains valid.