Gold prices recover - buyers break through 4500

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GOLDEN INFORMATION:

Gold (XAU/USD) trims a part of its intraday gains to the $4,600 mark, or the weekly high touched earlier this Wednesday. The precious metal, however, retains its positive bias just below the $4,550 level heading into the European session and remains highly sensitive to geopolitical headlines. Moreover, the volatility is likely to remain elevated as investors react to further developments in the ongoing conflict. This, in turn, warrants some caution before positioning for an extension of this week's solid recovery from a technically significant 200-day Simple Moving Average (SMA) near the $4,100 mark, or a four-month low.

⭐️Personal comments NOVA:

Gold prices recovered in the short term, breaking through 4500 and are currently consolidating.

⭐️SET UP GOLD PRICE

🔥SELL GOLD zone: 4730 - 4732 SL 4737
TP1: $4712
TP2: $4688
TP3: $4660

🔥BUY GOLD zone: 4488- 4486 SL 4481
TP1: $4502
TP2: $4530
TP3: $4555

⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas .

⭐️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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