GOLD: Consolidation Before the Next Leg Up?
GOLD is holding strongly above the 4,150 support area, a level that has acted as a key psychological zone and the base of the previous bullish continuation. Buyers continue to react positively every time the price moves down into this area, suggesting that bullish momentum remains intact.
After the recent corrective movement, the price is now stabilizing and attempting to form a new short-term higher low. If GOLD manages to stay above 4,150 and build momentum, a bullish continuation toward the next resistance zones is highly possible.
Upside Targets:
4,258
4,290
4,360
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❤️
GOLD is holding strongly above the 4,150 support area, a level that has acted as a key psychological zone and the base of the previous bullish continuation. Buyers continue to react positively every time the price moves down into this area, suggesting that bullish momentum remains intact.
After the recent corrective movement, the price is now stabilizing and attempting to form a new short-term higher low. If GOLD manages to stay above 4,150 and build momentum, a bullish continuation toward the next resistance zones is highly possible.
Upside Targets:
4,258
4,290
4,360
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❤️
Note
📣GOLD Update
🎯Today gold rose from 4199 when I posted the analysis to 4219.60
Maybe this could be the high for today.
I hope you have benefited in one way or another. It is very likely to continue to rise more tomorrow. The bullish momentum seems to have improved so far.
Trade active
📣GOLD Price Outlook
From the analysis I posted yesterday, gold rose from 4199 to 4238.6.
The bullish momentum remains intact and we could see gold reach its first target today near 4258, as shown in the chart.
From a financial perspective, the market expects the FED to cut interest rates on Wednesday, December 10th. The market could move further after the release of PCE data in about an hour.
Overall, the outlook for the US dollar is still unclear, but the ARRI is gold and remains strong.
It could continue to rise for no apparent reason and it could fall for the same reasons.
Stay bullish.
Trade closed: target reached
Note
First analysis:
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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
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.