GOLD → The bullish trend continues. Retest of 4250

XAUUSD is trading at six-week highs near $4,250, supported by a weaker dollar and expectations of a Fed rate cut. The market is storming key resistance...

The probability of a December rate cut is 87%. The dollar is posting its worst week in four months after failing to consolidate above 100.0. A break in local trend support could trigger a decline in the index, which would support gold.
Today's focus is on the ISM Manufacturing PMI (forecast: 48.6). Weakness in the data could increase pressure on the dollar and support gold.
Gold maintains its upward trend, supported by loose monetary policy. Key data this week could boost momentum ahead of the Fed meeting.

Resistance levels: 4245, 4300
Support levels: 4211, 4193

A retest of 4245 could end with a pullback within the current consolidation at 4211 - 4245. Two scenarios: If the bulls hold the price above 4245, a rally to 4300 is expected. Otherwise, the market could retest 4215 - 4211 with the aim of a long squeeze before rallying. The trend is bullish, and the fundamental background is relatively positive.

Sincerely, R. Linda!