Gold Hit Record High Amid Middle East Tensions and Fed Rate Cut
Updated
Gold Futures Hit Record High Amid Middle East Tensions and Fed Rate Cut Hints
Gold futures reached a new all-time high in Asian trading, driven by escalating tensions in the Middle East and growing expectations of a U.S. interest rate cut by the Federal Reserve.
Technical Analysis: Gold
Current Outlook: Gold prices have stabilized in a bullish zone, currently targeting $2,450. Today's price movement is expected to range between $2,450 and $2,428 until a breakout occurs.
Bullish Scenario: A break above $2,450 could extend the bullish trend towards $2,466 and $2,475, aiming for an all-time high (ATH).
Bearish Scenario: Stabilization below $2,450 could support a decline to $2,440 and $2,428. Bearish confirmation would occur with stabilization below $2,420.
Key Levels:
- Pivot Line: $2,450
- Resistance Levels: $2,466, $2,475, $2,483
- Support Levels: $2,430, $2,420, $2,412
Today's Expected Trading Range: The price is anticipated to fluctuate between the support level at $2,428 and the resistance level at $2,466.
previous idea:
Gold futures reached a new all-time high in Asian trading, driven by escalating tensions in the Middle East and growing expectations of a U.S. interest rate cut by the Federal Reserve.
Technical Analysis: Gold
Current Outlook: Gold prices have stabilized in a bullish zone, currently targeting $2,450. Today's price movement is expected to range between $2,450 and $2,428 until a breakout occurs.
Bullish Scenario: A break above $2,450 could extend the bullish trend towards $2,466 and $2,475, aiming for an all-time high (ATH).
Bearish Scenario: Stabilization below $2,450 could support a decline to $2,440 and $2,428. Bearish confirmation would occur with stabilization below $2,420.
Key Levels:
- Pivot Line: $2,450
- Resistance Levels: $2,466, $2,475, $2,483
- Support Levels: $2,430, $2,420, $2,412
Today's Expected Trading Range: The price is anticipated to fluctuate between the support level at $2,428 and the resistance level at $2,466.
previous idea:
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