Bulls - high pressure ! XAU increase next week

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✍️ NOVA hello everyone, Let's comment on gold price next week from 11/25 - 11/29/2024

🔥 World situation:

Gold prices surged to a two-week high on Friday during the North American session, supported by a dip in US Treasury yields. Geopolitical tensions kept the metal in demand, though improved US business activity limited its upward momentum. At $2,710, XAU/USD is up 1.50%.

The yellow metal gained strength as the US 10-year Treasury yield dropped by two basis points to 4.40%, providing a boost to gold. The precious metal is on track to post weekly gains exceeding 5%.


🔥 Identify:
A week that saw a big recovery, gold returned above the 2710 area. World tension news is still the main driver for gold prices to continue to recover.

🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2747, $2788, 2800
Support : $2645, $2604



🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Dagangan aktif
Gold price is still trading stably in the 2710-2720 range at the beginning of Monday week
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