Gold Showed Scenario Setup What Should Next?

12 Sep

XAUUSD Gold consolidation Bullish Structure due the Weakening U.S. dollar and falling Treasury yields make gold more attractive (lower opportunity cost of holding a non-yield bearing asset) and boost demand. Also, geopolitical risks / safe-haven demand remain supportive. So yes, the fundamental tailwinds are relatively strong, giving gold a decent chance of pushing higher — assuming no surprise hawkish comments or upside inflation shocks.

Technical situation & your levels

From Previous analysis Price rejects from 3674, and from 3658 → these are resistance zones If price crosses 3658, you see resistance at 3690 If it does not cross, then a bearish trend likely toward 3612 (long-term support) and possibly 3612 (assuming 3580 perhaps?). Let’s map those to what the technical analyses are showing

For your specific level 3674: yes, that appears to be a strong resistance. If gold gets there again, we should scrutinize whether momentum is strong enough to break above it. If it fails there again, that suggests the top might be forming (for now).

Your support of 3612 seems well-drawn: many traders are watching ~3610-3620 as an important support zone. Below that, risks increase.

You may find more details in the chart.
Trade wisely best of Luck Buddies.

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15 Sep

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15 Sep

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