Gold Hits $2,600 High; Bullish Momentum in Question
Gold Technical Analysis – 19th September 2024
Gold Reaches Record High of $2,600, Fed-Driven Surge May Be Temporary
Gold (XAU/USD) hit a new all-time high of $2,600 before retreating by approximately $55 per ounce. Moving forward, the gold market is expected to exhibit increased volatility, potentially favoring a bullish trend.
Currently, a retest of the $2,600 level appears likely. A break above this point could signal further bullish momentum towards $2,617. Conversely, if the price fails to sustain above $2,600, a downward movement could follow.
Key Levels:
Pivot Point: 2587
Resistance: 2599, 2617
Support: 2570, 2562, 2543
Trend Outlook:
Consolidation: 2580 - 2600
Bullish: Above 2579
Bearish: Below 2570
Gold Reaches Record High of $2,600, Fed-Driven Surge May Be Temporary
Gold (XAU/USD) hit a new all-time high of $2,600 before retreating by approximately $55 per ounce. Moving forward, the gold market is expected to exhibit increased volatility, potentially favoring a bullish trend.
Currently, a retest of the $2,600 level appears likely. A break above this point could signal further bullish momentum towards $2,617. Conversely, if the price fails to sustain above $2,600, a downward movement could follow.
Key Levels:
Pivot Point: 2587
Resistance: 2599, 2617
Support: 2570, 2562, 2543
Trend Outlook:
Consolidation: 2580 - 2600
Bullish: Above 2579
Bearish: Below 2570
Trade closed: target reached
GOLD
UPDATE
The price succeeded for the bullish trend and already broke the ATH now will drive to 2617 as long as trades above 2600
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t.me/Srosh_signals
~6 analyses per day. With a clear entry point
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SM World and Economy News 24/7
Urgent News ⚡️:
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