GOLD → The correction will trigger growth to $4,000.

5 hari lalu

XAUUSD hit a new record high of nearly $3,977 and entered a correction phase to build up potential before further growth. Despite the local strengthening of the dollar, the upward trend continues thanks to a combination of macroeconomic and geopolitical factors.

Key supporting factors: Ongoing US government shutdown: The Democrats' fifth unsuccessful attempt to resolve the issue increases uncertainty. Markets expect two interest rate cuts before the end of the year.
China has been increasing its reserves for the 11th consecutive month, and global central banks bought +15 tons in August.
No bearish triggers: Any correction is seen as a buying opportunity.
Gold maintains its upward momentum. Breaking through $4,000 seems a matter of time if current drivers remain in place. Key risks are an unexpected resolution to the shutdown or hawkish signals from the Fed.

Resistance levels: 3977, 4000
Support levels: 3945, 3927, 3920

Technically, a false breakdown of support could lead to continued growth. A retest of 3945 is possible; a weak reaction could trigger a deeper correction, for example to 3927, before further growth.

Sincerely, R. Linda!

4 hari lalu

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