GOLD → Consolidation. Long squeeze before growth to 3400

前天

XAUUSD has broken through resistance at 3353-3357 since the session opened, and bulls are currently trying to keep the market in the buying zone. Should we expect a long squeeze before growth?

Gold is in local consolidation after breaking through a key level. The price is still in the consolidation phase formed during a week-and-a-half correction. The price reached a three-week high of $3,374 on Monday but fell after the EU's conciliatory statements. Investors are awaiting US inflation data and Chinese GDP figures as they assess the prospects for a Fed rate cut. Heightened geopolitical and trade tensions are keeping demand for safe-haven assets high.

Technically, gold has entered a local buying zone, but there is a fairly complex resistance zone above it, and consolidation is needed to break through it. Such patterns could include a retest of support and a liquidity grab before growth.

Resistance levels: 3373, 3394
Support levels: 3357, 3353, 3345

There is a possibility of a retest of eql 3353 in a long squeeze format and a return to resistance at 3373 for a breakout. I also do not rule out a retest of the key level of 3345. The global trend is bullish, with the price locally in a fairly wide range, with an emphasis on the support zone of 3345-3355. If the bulls can hold this zone overall, the market will have a good chance of rising to 3400-3450

Best regards, R. Linda!

17 小時前

交易進行