Gold Futures Near the 2,800 USD Mark
Gold prices reached a peak of 2,788.89 USD/oz on October 30, fueled by U.S. election uncertainties and expectations of a Fed rate cut.
Gold is surging, approaching the strong resistance level at 2,800 – a “wall” that could halt the rally and trigger a pullback.
On the other hand, support levels at 2,747 and 2,717 are ready to act as “fortresses” if prices retreat to these levels.
A smart strategy is to wait for the price to hit resistance for a potential short, or to buy at support, capitalizing on a possible rebound.
Don’t forget to set a reasonable stop-loss – in this game, a single slip could shift the entire market landscape!
Gold is surging, approaching the strong resistance level at 2,800 – a “wall” that could halt the rally and trigger a pullback.
On the other hand, support levels at 2,747 and 2,717 are ready to act as “fortresses” if prices retreat to these levels.
A smart strategy is to wait for the price to hit resistance for a potential short, or to buy at support, capitalizing on a possible rebound.
Don’t forget to set a reasonable stop-loss – in this game, a single slip could shift the entire market landscape!
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