3 min readGOLD (XAU/USD):
Gold has successfully returned to its all-time highs, hovering around $2,750. As shown below, we’ve maintained dynamic support along this ascending trend line, allowing the price to continue its upward momentum.
Examining the technicals more closely, it’s evident that we are still holding and rejecting price at this resistance zone. If this area continues to act as resistance, I’ll be watching to see if we trade lower into the rebalanced zone around the 50% Fibonacci level, which also aligns with the daily 50 EMA. The RSI indicator doesn’t currently suggest that price action is overbought, although it did briefly dip just below the 70% threshold.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
