BULLS AND BEARS dispute $2,400. Is $2,500 feasible?
Dear traders!
On the 1D timeframe, gold confirmed a correction to the liquidity zone after updating its ATH. The $2,400 liquidity zone probably remains a solid support level for continued bullish support. However any false breakout could see gold retreat deeper possibly to the 2375 area with the aim of consolidating before strengthening further above the latest ATH of 2450 USD. Do you wonder why the price of gold has increased so sharply?
Recently, gold has been strongly supported in the context of geopolitical and economic instability. According to data from the World Gold Council, since the beginning of the year until now, gold prices have increased more than 16%, reaching a record high of over 2,400 USD/ounce in May. There are many comments that gold may be ready. for another price increase, while recent optimism among retail investors predicts gold could reach $3,000/ounce within the next 6 to 18 months.
In summary: Although optimistic that gold will continue to rise in the near future, most are not sure when gold will hit the $3,000/ounce mark. The driving force that could bring gold to that level is the Fed loosening monetary policy.
It is expected that in the near future the Fed's steps, combined with other factors such as central bank gold demand and geopolitical tensions, could push gold to other record highs. It is predicted that by the end of this month, gold will hit the 2,500 USD mark before being ready for a jump above the 3,000 USD mark.
Conan personally awaits confirmation above the 2400 USD liquidity zone with an eye towards the expected target of at least 2450 USD to 2500, as the overall fundamental and technical outlook for gold is positive for the bulls .
On the 1D timeframe, gold confirmed a correction to the liquidity zone after updating its ATH. The $2,400 liquidity zone probably remains a solid support level for continued bullish support. However any false breakout could see gold retreat deeper possibly to the 2375 area with the aim of consolidating before strengthening further above the latest ATH of 2450 USD. Do you wonder why the price of gold has increased so sharply?
Recently, gold has been strongly supported in the context of geopolitical and economic instability. According to data from the World Gold Council, since the beginning of the year until now, gold prices have increased more than 16%, reaching a record high of over 2,400 USD/ounce in May. There are many comments that gold may be ready. for another price increase, while recent optimism among retail investors predicts gold could reach $3,000/ounce within the next 6 to 18 months.
In summary: Although optimistic that gold will continue to rise in the near future, most are not sure when gold will hit the $3,000/ounce mark. The driving force that could bring gold to that level is the Fed loosening monetary policy.
It is expected that in the near future the Fed's steps, combined with other factors such as central bank gold demand and geopolitical tensions, could push gold to other record highs. It is predicted that by the end of this month, gold will hit the 2,500 USD mark before being ready for a jump above the 3,000 USD mark.
Conan personally awaits confirmation above the 2400 USD liquidity zone with an eye towards the expected target of at least 2450 USD to 2500, as the overall fundamental and technical outlook for gold is positive for the bulls .
Trade active
Trade active
Order cancelled
🌟 Don't miss the opportunity to receive CONTINUOUS trading signals and FREE support!
🌟 Always update market information and knowledge every day!
🌟 Join now to receive special offers!
Click here:
t.me/+PfOGYbx-krowZWZl
🌟 Always update market information and knowledge every day!
🌟 Join now to receive special offers!
Click here:
t.me/+PfOGYbx-krowZWZl
