As quoted on 30th Jan 2025 3100 $ has finally being approached.
The daily chart shows that Gold price has almost tested the ascending triangle target, measured at $3,080.
Therefore, a minor pullback cannot be ruled out in the near term. Additionally, the 14-day Relative Strength Index (RSI) has entered the overbought region, currently at 72.50, lending credence to the retracement outlook.
If a correction unfolds, the immediate support for Gold buyers is at the $3,050 psychological barrier, below which the March 26 low of $3,012 could be tested.
Further down, the $3,000 round level will emerge as a significant support level.
On the other hand, if buyers manage to hold ground, the next topside target is seen at the $3,100 threshold.
Fresh buying opportunities would emerge above that level, opening doors for an advance toward the $3,150 level.
The daily chart shows that Gold price has almost tested the ascending triangle target, measured at $3,080.
Therefore, a minor pullback cannot be ruled out in the near term. Additionally, the 14-day Relative Strength Index (RSI) has entered the overbought region, currently at 72.50, lending credence to the retracement outlook.
If a correction unfolds, the immediate support for Gold buyers is at the $3,050 psychological barrier, below which the March 26 low of $3,012 could be tested.
Further down, the $3,000 round level will emerge as a significant support level.
On the other hand, if buyers manage to hold ground, the next topside target is seen at the $3,100 threshold.
Fresh buying opportunities would emerge above that level, opening doors for an advance toward the $3,150 level.
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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.
Related publications
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.