📈 Gold Extends Gains in Strong Uptrend
Gold (XAU/USD) is trading at $2,938, continuing its rally within a well-defined ascending channel (orange lines).
Price remains above both the 50-day EMA ($2,776) and 200-day EMA ($2,576), reinforcing bullish momentum.
🔍 Key Technical Levels:
Resistance:
$3,000 → Psychological level, upper bound of the channel.
Support:
$2,900 → Lower channel trendline.
$2,850 → Stronger support if the uptrend weakens.
📊 Momentum Check:
RSI at 71.56 → Overbought territory, a pullback or consolidation is possible.
Price hugging the upper trendline, suggesting a short-term correction could be healthy.
🚀 What’s Next?
Bulls want to see $2,900 hold as support to sustain the trend.
A break below the channel could trigger profit-taking toward $2,850 or even the 50-day EMA ($2,776).
Gold’s trend remains bullish, but overbought conditions warn of potential volatility.
-MW
Gold (XAU/USD) is trading at $2,938, continuing its rally within a well-defined ascending channel (orange lines).
Price remains above both the 50-day EMA ($2,776) and 200-day EMA ($2,576), reinforcing bullish momentum.
🔍 Key Technical Levels:
Resistance:
$3,000 → Psychological level, upper bound of the channel.
Support:
$2,900 → Lower channel trendline.
$2,850 → Stronger support if the uptrend weakens.
📊 Momentum Check:
RSI at 71.56 → Overbought territory, a pullback or consolidation is possible.
Price hugging the upper trendline, suggesting a short-term correction could be healthy.
🚀 What’s Next?
Bulls want to see $2,900 hold as support to sustain the trend.
A break below the channel could trigger profit-taking toward $2,850 or even the 50-day EMA ($2,776).
Gold’s trend remains bullish, but overbought conditions warn of potential volatility.
-MW
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.
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.