Gold has been steadily rising since decisively crossing the all-time high of 2075 on March 1, 2024.
Disclaimer: This post does not recommend any trade. It aims to better understand the chart.
- The safe-haven commodity retracted after a long shadow candle on April 22, 2025, ending a year-long bull run.
- Gold is now in a parallel channel between 3120 (lower) and 3500 (higher).
- Consolidation may continue, with a bias towards profit booking.
- The 50 SMA acts as a strong support level, providing low-risk entry when prices dip below it.
- Gold should be part of a portfolio, but current prices seem high for investment. Traders can consider entering based on their risk-reward appetite, taking cues from the 50 SMA and parallel trend.
Disclaimer: This post does not recommend any trade. It aims to better understand the chart.
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.
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.