GOLD - Waiting to RECORD new HIGH, then DECLINE
Gold advanced towards record highs on Wednesday as gains in non-yielding bullion were bolstered by weakness in U.S. bond yields and expected rate cuts by major central banks, with additional safe-haven support from ongoing geopolitical conflicts.
Generally, the direction is uptrend
Uptrend Side: will touch the last level 2684, a breaking above it will touch the new high level from 2700.
Correction: Currently, the price is in a correction process toward 2,670.
Downtrend Side: In the bearish scenario, the price may continue its correction down to 2,670, with further potential decline below 2,661. Alternatively, the price may rise to reach a new high near 2,700 before beginning a decline, crossing 2,684 and 2,670 on the way down to 2,661.
Generally, the direction is uptrend
Uptrend Side: will touch the last level 2684, a breaking above it will touch the new high level from 2700.
Correction: Currently, the price is in a correction process toward 2,670.
Downtrend Side: In the bearish scenario, the price may continue its correction down to 2,670, with further potential decline below 2,661. Alternatively, the price may rise to reach a new high near 2,700 before beginning a decline, crossing 2,684 and 2,670 on the way down to 2,661.
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With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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