Gold price prospects to rise again sooner?

Hello dear friends, as expected, yesterday we saw gold drop to its final profit-taking target at $2013. However, gold quickly recovered and at the time of writing, it is trading around $2033, stable within the previous downtrend channel.

Therefore, the upward momentum of gold may be limited as there is a possibility that the FED may not begin cutting interest rates earlier than anticipated, which could lead to selling pressure on XAUUSD.

Looking at the prospects and trends of gold: overall, it is still in a downward trend, but selling pressure is gradually decreasing and there is a possibility of a shift towards an increase in price due to the appearance of a convergence trendline on the RSI. The current support level is $2013, which may play a crucial role in the price increase of XAUUSD, with RKarina's profit-taking target set at $2035 and $2065.

Commentaire:

Transaction en cours

Trade fermée: cible de profit atteinte