FenzoFx—Gold is trading higher today, made a new ATH. As of this writing, XAU/USD trades at approximately $4,222.0, testing the ascending trendline as support. Going long is still in play, but we suggest waiting for a correction toward $4,177.0.
This area is last day's opening gap in the futures market. Therefore, there is a high probability for the price to decrease near this level before a new leg upward.
This area is last day's opening gap in the futures market. Therefore, there is a high probability for the price to decrease near this level before a new leg upward.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.