OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hello traders ,what do you think about GOLD? Gold is currently positioned in a sensitive area and has reached its historical peak for the fourth time. Considering that it is below a significant resistance area and is in an overbought zone, a short-term correction is expected. However, the overall trend remains bullish. Keep in mind that this is a weekly analysis and requires time for completion
If this post was useful to you, do not forget to like and comment.❤️
Gold broke its historical high and set a new high at 2146, but is currently trading below 2100. The risk of buying in this range is high, so we're waiting for further market correction before entering a buy position
As anticipated, gold entered the correction phase and reversed its upward trend during the Asian session. Subsequently, the $2000 level appears as an attractive entry point for buying, pending further confirmation.



Related Ideas


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.