Hello dear friends!
Gold continues to maintain a strong long-term uptrend, with prices pushed higher by the recovery process last Friday. The bet that the Fed will cut interest rates next year has created some meaningful growth momentum for this precious metal.
With the trendline still in formation, the immediate resistance level is at $2,070. Any breakout above this resistance level could help XAUUSD rapidly reach the formation of a third peak, expected to be formed along the trendline with a price of $2,130.
What are your thoughts? Do you think gold can continue to rise significantly, or will it decrease back to $2,000?
Gold continues to maintain a strong long-term uptrend, with prices pushed higher by the recovery process last Friday. The bet that the Fed will cut interest rates next year has created some meaningful growth momentum for this precious metal.
With the trendline still in formation, the immediate resistance level is at $2,070. Any breakout above this resistance level could help XAUUSD rapidly reach the formation of a third peak, expected to be formed along the trendline with a price of $2,130.
What are your thoughts? Do you think gold can continue to rise significantly, or will it decrease back to $2,000?
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