Gold is rallying on a combination of safe-haven flows and Dollar weakness, approaching the $3,420 resistance. While momentum is elevated—resembling crisis-era extremes—further gains are possible amid continued uncertainty.
If $3,420-$3450 zone holds, aligning with key Fibonacci extensions (drawn from the 2018 lows, 2020 highs, and 2022 lows), and trendline connecting 2016 and 2020 peaks, gold could follow through on its cup and handle breakout pattern toward $3,700 and $4,000.
However, any geopolitical resolution or easing of trade tensions could trigger a sharp reversal, with potential downside levels at $3,000, $2,960, $2,900, and $2,800.
Written by Razan Hilal, CMT
If $3,420-$3450 zone holds, aligning with key Fibonacci extensions (drawn from the 2018 lows, 2020 highs, and 2022 lows), and trendline connecting 2016 and 2020 peaks, gold could follow through on its cup and handle breakout pattern toward $3,700 and $4,000.
However, any geopolitical resolution or easing of trade tensions could trigger a sharp reversal, with potential downside levels at $3,000, $2,960, $2,900, and $2,800.
Written by Razan Hilal, CMT
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.