GOLD → An amazing recovery. Up to 3400?

5月6日

XAUUSD continues to strengthen, testing resistance in the range, with buyers not giving up. The price breaks through the flat line and enters the buying zone; everything depends on the bulls...

Gold is rising for the second day in a row amid a weak dollar, increased demand for safe assets, and escalating conflicts in the Middle East and Eastern Europe.
Market nerves are being stoked by trade risks and instability in Asia, while investors await the Fed's decisions and Powell's speech.
GOLD is breaking out of its neutral range. Focus on 3369 and local resistance at 3381. The fundamental backdrop is favorable for gold. If buyers hold their ground above the indicated levels, the price may continue to rise.

Resistance levels: 3369, 3381, 3408
Support levels: 3352 (0.5f), 3330

I do not rule out the possibility of a retest of the local liquidity zone (long squeeze) at 3352 (0.5f) before continuing to rise. But at the moment, the focus is on 3369-3370, which are key levels (currently acting as support).

Best regards, R. Linda!

5月6日

交易進行