Escalating tensions in Venezuela: The US has imposed a blockade on oil, further enhancing the appeal of precious metals as safe-haven assets. Most traders are currently betting on further US interest rate cuts in 2026. So far, gold prices have risen approximately 70% since 2505.
Gold surged in early Asian trading on Friday, but quickly retreated from its highs. However, the rally lasted only 10 minutes before a rapid decline.
From a technical perspective, the daily chart shows a long lower shadow, indicating that the upward momentum has weakened in the short term, and the market is likely to enter a period of consolidation and accumulation. It is not advisable to blindly chase the highs. The key support level to watch is 4480, which was a crucial support level during the previous market pullback. Intraday long positions can be initiated at this level.
The key focus is on the resistance zone of 4525-4530, which represents the new high in the Asian morning session. This is a crucial resistance area. Although prices rose rapidly and then fell back quickly, the overall trend remains unchanged. As long as gold stays above 4480, it will remain in a strong uptrend. In the short term, the strategy remains primarily to buy on dips, and this has been our main approach this week.
Strategy Recommendation:
Buy at 4480-4490, stop loss at 4470, profit target 4500-4520.I will update more trading information in the channel.
Gold surged in early Asian trading on Friday, but quickly retreated from its highs. However, the rally lasted only 10 minutes before a rapid decline.
From a technical perspective, the daily chart shows a long lower shadow, indicating that the upward momentum has weakened in the short term, and the market is likely to enter a period of consolidation and accumulation. It is not advisable to blindly chase the highs. The key support level to watch is 4480, which was a crucial support level during the previous market pullback. Intraday long positions can be initiated at this level.
The key focus is on the resistance zone of 4525-4530, which represents the new high in the Asian morning session. This is a crucial resistance area. Although prices rose rapidly and then fell back quickly, the overall trend remains unchanged. As long as gold stays above 4480, it will remain in a strong uptrend. In the short term, the strategy remains primarily to buy on dips, and this has been our main approach this week.
Strategy Recommendation:
Buy at 4480-4490, stop loss at 4470, profit target 4500-4520.I will update more trading information in the channel.
Trade attivo
Prices are slowly rising, and I have already closed my position for the second time. Congratulations to those who also went long.Trade chiuso: obiettivo raggiunto
Target hit. Congratulations to those who went long and made a substantial profit on the last trading day of the week.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.