Gold Hits New Highs as Bullish Trend Continue Amid US Data Watch
Updated
Gold Technical Analysis – 25 September 2024
Gold Futures Set New Record as Market Eyes Upcoming U.S. Data
The precious metal continues to enjoy support on expectations of lower U.S. interest rates, which have dented the dollar and softened treasury yields, a boon for non-interest-yielding assets like gold
Technically:
the price remains in a bullish trend as long as it trades above 2648 to get 2665 and 2670, any stability above 2670 will push it up to get 2680,
there is also a retest till 2648.
Key Levels:
Pivot Point: 2657
Resistance Lines: 2665, 2670, 2680
Support Lines: 2648, 2638, 2634
Trend:
Bullish while above 2655
Gold Futures Set New Record as Market Eyes Upcoming U.S. Data
The precious metal continues to enjoy support on expectations of lower U.S. interest rates, which have dented the dollar and softened treasury yields, a boon for non-interest-yielding assets like gold
Technically:
the price remains in a bullish trend as long as it trades above 2648 to get 2665 and 2670, any stability above 2670 will push it up to get 2680,
there is also a retest till 2648.
Key Levels:
Pivot Point: 2657
Resistance Lines: 2665, 2670, 2680
Support Lines: 2648, 2638, 2634
Trend:
Bullish while above 2655
Trade closed: target reached
GOLD
Update
The price reached our target 2665 and reversed, so as long as trades under 2657 means will continue the bearish correction till 2648, and under it will get 2634
Trade closed: target reached
GOLD
Update
The price reached our last target of 2680 and reversed perfectly, so now the price will consolidate between 2670 and 2657 till breaking
Trend:
- Stability under 2657 will get 2648 and 2634
- Stability above 2670 will get 2680 and 2699
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