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Accumulation below 5134 - gold price

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⭐️GOLDEN INFORMATION:

Gold price (XAU/USD) rises to near $5,035 during the early Asian session on Monday. The precious metal extends its recovery amid a weaker US Dollar (USD) and rising demand from central banks. The delayed release of the US employment report for January will be in the spotlight later on Wednesday.

US Treasury Secretary Scott Bessent on Thursday refused to rule out the possibility of a criminal investigation of Kevin Warsh, President Donald Trump’s nominee for US Federal Reserve (Fed) chair, if Warsh ends up refusing to lower the interest rates. Concerns over the Fed’s independence continue to drag the Greenback lower and provide some support to the USD-denominated commodity price.

⭐️Personal comments NOVA:

Gold prices recovered above 5000, consolidating and stabilizing. Trading below 5141.

⭐️SET UP GOLD PRICE

🔥SELL GOLD zone: 5140 - 5142 SL 5147
TP1: $5125
TP2: $5100
TP3: $5082

🔥BUY GOLD zone: 4834- 4836 SL 4829
TP1: $4850
TP2: $4865
TP3: $4885

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

⭐️NOTE:

Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account

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