Gold prices rallied more than 0.3% since the start of the week with XAU/USD building on last week’s defense of the yearly lows. The recovery is on shaky ground as the weekly range contracts below a key pivot zone and recent price action raises the scope for a breakout in the days ahead.
The rally was halted yesterday at the objective monthly open with price currently straddling the 2022 low-day close at 1659- is a near-term low in place?
The gold recovery is approaching a key pivot zone and leaves the rally vulnerable into multi-week highs. From a trading standpoint, a good zone to reduce long-exposure / raise protective stops – losses should be limited to the lower parallel IF price is heading higher with a breach / close above 1686 needed to keep the immediate long-bias viable. Keep in mind the key US inflation data (Core PCE) is on tap Friday with the FOMC rate and Non-Farm Payrolls (NFP) slated for next week. Expect volatility and stay nimble into the releases.
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
اترك رسالتك الآن