Gold broke through key resistance last week at the former record high / June high at 3432/51 with XAU/USD rallying to fresh record highs today. Price is poised to mark a sixth-consecutive daily advance with gold now trading just below uptrend resistance.
Initial support rests with the median-line (blue- currently near ~3470) and is backed again by 3432/51- losses should be limited to this threshold IF price is heading higher on this stretch. Broader bullish invalidation rests with the April high-day close (HDC) at 3381.
Initial lateral resistance is eyed at the 1.618% extension of the late-July advance at 3540 and is backed by the 100% extension of the broader May rally at 3578- look for a larger reaction there IF reached.
-MB
Initial support rests with the median-line (blue- currently near ~3470) and is backed again by 3432/51- losses should be limited to this threshold IF price is heading higher on this stretch. Broader bullish invalidation rests with the April high-day close (HDC) at 3381.
Initial lateral resistance is eyed at the 1.618% extension of the late-July advance at 3540 and is backed by the 100% extension of the broader May rally at 3578- look for a larger reaction there IF reached.
-MB
Penafian
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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.