Last week was a tough one for Gold bulls, with the price dropping sharply to a low of $2,830, breaking through multiple support levels.
However, after Friday’s close back above the $2,850 zone, the market opened on Monday with a gap. Once that gap was filled, the price rebounded, breaking back above the key $2,880–$2,890 technical zone.
Furthermore, at the time of writing, Gold is trading at $2,915, nearing the next technical resistance at $2,920.
What’s Next?
✅ Bulls currently have the upper hand, and as long as the $2,890 zone holds, new all-time highs (ATHs) could be on the horizon.
✅ I'm currently out of the market, but if the price stabilizes above $2,900, buying dips should be the preferred strategy.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
However, after Friday’s close back above the $2,850 zone, the market opened on Monday with a gap. Once that gap was filled, the price rebounded, breaking back above the key $2,880–$2,890 technical zone.
Furthermore, at the time of writing, Gold is trading at $2,915, nearing the next technical resistance at $2,920.
What’s Next?
✅ Bulls currently have the upper hand, and as long as the $2,890 zone holds, new all-time highs (ATHs) could be on the horizon.
✅ I'm currently out of the market, but if the price stabilizes above $2,900, buying dips should be the preferred strategy.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.