GOLD → The realization phase continues. What are the targets?

18 oct.

XAUUSD in the phase of realizing the accumulated potential updates ATH to 2714 and is in no hurry to give up, movements can be continued...



Gold feels support from the Chinese markets after positive hints from the People's Bank of China revived hope for stimulating the economy. Also from the European side - the ECB cut its key rate, in anticipation of another, fourth cut in December...
Strong data from the US on Thursday pointed to a solid economic outlook, but this failed to change the odds of a 0.25% rate cut by the US Fed in November.
In addition, the gold price found fresh demand amid escalating geopolitical tensions between Iran and Israel (Hamas leader eliminated)

Resistance levels: 2711.7, 2715, 2720
Support levels: 2702, 2696, 2689

Technically, gold continues its bull run once again. The chart indicates key support areas that may be of interest before further rally. A correction has been forming since the opening of the European session, but price is quickly returning to ATH. If the bulls hold the defense above 2711, the growth will continue without a pullback. Targets are indicated on the chart

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!