Gold confirm signal buy

Gold price plunged late on Tuesday in the aftermath of a hotter-than-expected US inflation report that exceeded estimates and prompted a jump in US Treasury bond yields. Then the yellow metal tumbled more than 1%, and the XAU/USD traded at $2,157.00 per troy ounce.

From a technical point of view, the daily chart for the XAU/USD pair shows the pair finally began correcting extreme overbought conditions, although that does not dismiss the chance of a higher high. The pair trades above the 23.6% retracement of the latest bullish run measured between $1,984.03 and $2,195.22, at $2,145.17.

Technical indicators head south but remain within the overbought territory, while the bright metal keeps developing far above its moving average. The 20 Simple Moving Average (SMA) heads firmly north at around $2,071, just a handful of $ above the 61.8% retracement of the aforementioned rally and a potential bearish target should the USD gain momentum.

Gold now buy 2157

Target 2162
Target 2166
Target 2170
Target 2200

SL 2140

註釋

Gold buy 30 pips running

註釋

Follow my signal

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Gold buy 40 pips running

註釋

Target 1 Hit 50 pips done ✅

註釋

Gold buy 60 pips running

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