3 min readGOLD (XAU/USD):
Gold is continuing to reach new all-time highs, currently trading above $2,770. With no apparent signs of a downturn, the question now is: how long can this rally continue?
A closer look at the technicals reveals that current price action is breaking through key structural levels without retesting them or moving into discount areas. Ideally, I’d like to see the price dip back into these former resistance zones, which have now turned into support. Observing how price action interacts with these levels would be essential before reassessing potential trading opportunities. The RSI indicator below shows that we are currently trading above the critical “overbought” level of 70%.
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