GOLD - BULLISH STRUCTURE SHAKING - WHAT'S NEXT?
Symbol - XAUUSD
CMP - 2910
Gold has transitioned from a locally bullish trend to a neutral, sideways market. Despite this shift, bullish forces continue to defend key support levels. What can we anticipate for the precious metal in the near term?
Investor sentiment has gravitated back toward safe-haven assets amid concerns surrounding President Trump's tariff policies and disappointing U.S. economic data. On Tuesday, gold experienced a pullback from its record high of $2,956 due to profit-taking and a decline in Chinese imports. However, a weaker-than-expected U.S. consumer confidence index facilitated a recovery in gold prices.
The upward movement in gold is currently constrained by a strengthening U.S. dollar and rising bond yields, but ongoing trade war concerns continue to fuel demand for the metal.
Key resistance levels: 2921, 2929, 2942
Key support levels: 2905, 2888
As a result, gold is likely to remain within a sideways trading range. There is potential for a short-term decline to retest support in the 2905-2888 range before resuming upward movement. Alternatively, a breakout above resistance levels could signal further gains.
If the bulls manage to sustain trading above the 2921-2929 zone, the metal could resume its upward trajectory.
CMP - 2910
Gold has transitioned from a locally bullish trend to a neutral, sideways market. Despite this shift, bullish forces continue to defend key support levels. What can we anticipate for the precious metal in the near term?
Investor sentiment has gravitated back toward safe-haven assets amid concerns surrounding President Trump's tariff policies and disappointing U.S. economic data. On Tuesday, gold experienced a pullback from its record high of $2,956 due to profit-taking and a decline in Chinese imports. However, a weaker-than-expected U.S. consumer confidence index facilitated a recovery in gold prices.
The upward movement in gold is currently constrained by a strengthening U.S. dollar and rising bond yields, but ongoing trade war concerns continue to fuel demand for the metal.
Key resistance levels: 2921, 2929, 2942
Key support levels: 2905, 2888
As a result, gold is likely to remain within a sideways trading range. There is potential for a short-term decline to retest support in the 2905-2888 range before resuming upward movement. Alternatively, a breakout above resistance levels could signal further gains.
If the bulls manage to sustain trading above the 2921-2929 zone, the metal could resume its upward trajectory.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.