📈 Gold's All-Time High UpdateIs $2500 Next?
https://www.tradingview.com/chart/8zkc9xZA/?symbol=EIGHTCAP%3AXAUUSD
👑 Insights on Gold (XAUUSD)
📈 Gold's All-Time High UpdateIs $2500 Next?
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Gold has surpassed its all-time high, probing the $2450 mark since the session's start. This surge could be attributed to a fundamentally weak dollar and geopolitical tensions concerning Iran.
Previously, we pinpointed the end of the correction phase, with the interim bottom at the $2300 zone. Since then, the price has ascended by $150 or 6%. The bulls have regained market dominance, and traders seem poised to back the current uptrend.
Attention should be given to the support levels at 2431 and 2417, which may herald the onset of a minor correction (presumed to be the 4th wave). During this phase, the price might revisit the aforementioned liquidity zones before climbing further.
Support Levels: 2431, 2425, 2417
Resistance Levels: 2450, 2475
Bulls are likely to vigorously defend the nearest liquidity zones and robust support levels, as these represent risk areas for buyers. The trend could resume post-pullback or once the price breaches and stabilizes above $2450.
#XAUUSD 👑
👑 Insights on Gold (XAUUSD)
📈 Gold's All-Time High UpdateIs $2500 Next?
————————————————
Gold has surpassed its all-time high, probing the $2450 mark since the session's start. This surge could be attributed to a fundamentally weak dollar and geopolitical tensions concerning Iran.
Previously, we pinpointed the end of the correction phase, with the interim bottom at the $2300 zone. Since then, the price has ascended by $150 or 6%. The bulls have regained market dominance, and traders seem poised to back the current uptrend.
Attention should be given to the support levels at 2431 and 2417, which may herald the onset of a minor correction (presumed to be the 4th wave). During this phase, the price might revisit the aforementioned liquidity zones before climbing further.
Support Levels: 2431, 2425, 2417
Resistance Levels: 2450, 2475
Bulls are likely to vigorously defend the nearest liquidity zones and robust support levels, as these represent risk areas for buyers. The trend could resume post-pullback or once the price breaches and stabilizes above $2450.
#XAUUSD 👑