Gold Breaks New Records: Unstoppable Momentum Continues
It was a big surprise that gold seems unstoppable and from all perspectives remains on the rise. I have not seen anything like this before in one of the most tradable assets.
All this upward momentum remains unclear. In my opinion, it is not related to the Federal Reserve or geopolitical issues, as we have heard this topic all this year and it has been evaluated millions of times. But this is the situation.
Technical Analysis:
Gold broke out to another important price level of 4200, thus showing a very strong upward momentum. Gold continues to mark a historical high.
Blue Scenario:
Gold also remains on the rise today. If it stays above the current support area of 4180, then it should continue to rise further to 4250 and 4300 for now.
Red Scenario:
If gold faces any profit, it could fall to a maximum of 4105 before moving up again.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
It was a big surprise that gold seems unstoppable and from all perspectives remains on the rise. I have not seen anything like this before in one of the most tradable assets.
All this upward momentum remains unclear. In my opinion, it is not related to the Federal Reserve or geopolitical issues, as we have heard this topic all this year and it has been evaluated millions of times. But this is the situation.
Technical Analysis:
Gold broke out to another important price level of 4200, thus showing a very strong upward momentum. Gold continues to mark a historical high.
Blue Scenario:
Gold also remains on the rise today. If it stays above the current support area of 4180, then it should continue to rise further to 4250 and 4300 for now.
Red Scenario:
If gold faces any profit, it could fall to a maximum of 4105 before moving up again.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade active
GOLD rose as expected from 4180 to 4242
Yesterday, after I posted the GOLD analysis, the price fell to 4180 and only created a normal correction, and rose again.
It seems that the reluctance for higher prices is increasing, considering that GOLD spent almost 16 hours in that area near 4180 before rising again.
From 4180, gold clearly rose to 4242, showing that the bullish momentum remains high.
Also today, gold remains under the control of the bulls and the price could extend further to 4250, 4300.
Any news could push gold even higher.
Note
📣GOLD Price OutlookYesterday gold hit a new record high of 4380.
The price went up for no reason in an exponential way.
I have no idea what is going on because these crazy moves are not related to normal market conditions. It is impossible to be a normal market and go up like this moreover, at a time that we don't have any news.
If you made profits, then well done:)
I think everyone should at least stop trading gold today. We could also face some aggressive sell-off that could come out of nowhere.
⚠️Gold could also rise further but I don't believe to this market anymore.
⚠️Yesterday we had movements also on the currency pairs and that are going on also today for no reasons. I can't explain and I couldn't find any news related to the movements.
The only thing that can be read is that the FED will lower interest rates and it will not lower them. Just nonsense. All major economies lowered interest rates and nothing happened. Why this pointless focus only on the US dollar? Just manipulation to hide the real truth behind these transactions.
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
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.