A Lot is Happening on Gold!
While the price of Gold (XAU/USD) has been rangebound since December 2024, a possible AB=CD harmonic support zone at US$2,471 continues to call for attention. A 61.8% Fibonacci retracement ratio also complements this support at US$2,473. Investors will also likely take note of the double-top pattern around the December 2024 peak of US$2,726. The pattern’s neckline at US$2,605 has been breached, and its profit objective conveniently resides just above the AB=CD support at US$2,483.
So, two patterns indicate that a push lower could materialise before buyers attempt to step in. However, given Gold’s clear uptrend, a bullish move above the December 2024 peak also remains possible.
So, two patterns indicate that a push lower could materialise before buyers attempt to step in. However, given Gold’s clear uptrend, a bullish move above the December 2024 peak also remains possible.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.