In my Friday analysis, I mentioned that a break above 2530 could trigger an upward acceleration, especially since gold had been trading within a tight range throughout the week. However, this breakout did not occur. Instead, XAU/USD ended the week just above the key 2500 level.
As of this writing, the price is slightly below 2500, currently at 2496, and it may continue to decline. However, there's strong support at 2480, a level that has previously acted as resistance three times—in mid-July, early August, and mid-August. If the price reaches this level, I anticipate a reversal.
In conclusion, I'm looking to buy on dips, targeting a reversal that would push the price back above 2500.
As of this writing, the price is slightly below 2500, currently at 2496, and it may continue to decline. However, there's strong support at 2480, a level that has previously acted as resistance three times—in mid-July, early August, and mid-August. If the price reaches this level, I anticipate a reversal.
In conclusion, I'm looking to buy on dips, targeting a reversal that would push the price back above 2500.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.