Gold is preparing for a new price increase
💥Since the shock increase and decrease on Monday following the speeches of Fed officials, the gold price (XAU/USD) has had almost no significant fluctuations, fluctuating around 2,420 USD/ounce.
💥Gold is under profit-taking pressure after the precious metal hit an all-time high earlier this week. However, this precious metal still remains firmly above the level of 2,400 USD/ounce.
💥Gold is strongly supported in the context of geopolitical and economic instability. According to data from the World Gold Council, since the beginning of the year, gold prices have increased more than 16%, reaching a record high of over 2,400 USD/ounce in May. Gold may be ready for another price increase. Gold could reach 3,000 USD/ounce within the next 6 to 18 months.
💥Currently, gold price is trading within the triangle flag border. This accumulation price pattern will soon break and surpass notable hooks like 2407.2435. Wider trading ranges are located at 2402 and 2448 with solid support and resistance zones.
SELL price range 2440 - 2442 stop 2446
BUY price range 2409 - 2407 stop 2403
BUY price range 2402 - 2400 stop 2393
💥Gold is under profit-taking pressure after the precious metal hit an all-time high earlier this week. However, this precious metal still remains firmly above the level of 2,400 USD/ounce.
💥Gold is strongly supported in the context of geopolitical and economic instability. According to data from the World Gold Council, since the beginning of the year, gold prices have increased more than 16%, reaching a record high of over 2,400 USD/ounce in May. Gold may be ready for another price increase. Gold could reach 3,000 USD/ounce within the next 6 to 18 months.
💥Currently, gold price is trading within the triangle flag border. This accumulation price pattern will soon break and surpass notable hooks like 2407.2435. Wider trading ranges are located at 2402 and 2448 with solid support and resistance zones.
SELL price range 2440 - 2442 stop 2446
BUY price range 2409 - 2407 stop 2403
BUY price range 2402 - 2400 stop 2393
Trade active:
GOLD BREAk alll support zone
Comment:
update new strategy
Comment:
📌The yellow metal's potential for further upside may be limited as the FOMC minutes are understood to be significantly more hawkish than previous releases. The US Fed's cautious approach in maintaining its restrictive policy for longer boosted the greenback broadly.
📌The falling price margin may expand to 2352 today, this is an important pillar if broken, gold price will continue to fall to 2300.