GOLD → False or true resistance breakout?

13 Jan

XAUUSD is trying to consolidate above the previously broken boundary of the ascending channel and symmetrical triangle. The struggle that has not ended creates risks for both buyers and sellers.



Economic problems in China and Trump's policy risk continue to support gold.
Inflation expectations are rising amid rising oil prices and the outlook for trade policy in the US. Friday's NFP report showed strong employment growth, making it less likely that the Fed will significantly cut interest rates in 2025
Traders' attention is also focused on CPI data to be released on Wednesday and its impact on future Fed policy.



Resistance levels: 2690, 2700
Support levels: 2685, 2678, 2665

At the moment, the price is in consolidation above previously broken resistance.
If there is no bullish momentum and the price makes a false break of the channel resistance, in that case gold may go down to 2678 - 2665.
BUT, a break of the local downside resistance could trigger buying and upside to targets: 2700

Regards R. Linda!

13 Jan

Dagangan aktif

Nevertheless, a false breakout was formed. The price consolidated below 2680, which was the reason to open a position.
An impulse and a break in the local market structure is forming

13 Jan

Dagangan ditutup: sasaran tercapai