Gold Poised for Bullish Momentum Ahead of U.S. Inflation Data

Sep 10

Gold Technical Analysis - 10 Sep. 2024:

Gold Broadly Stable Ahead of U.S. Inflation Data

The price is expected to follow a bullish trend Today if it remains above 2500, with potential targets at 2516 and 2526. A further rise could occur if the price closes a 4-hour candle above 2526, potentially targeting 2543.

However, if the price reverses and stabilizes under 2500, it may signal a bearish move towards 2492 and 2484.

Key Levels:

Pivot Point: 2500
Resistance Levels: 2516, 2526, 2532
Support Levels: 2492, 2484, 2475

Expected Trading Range: 2525 - 2484

Trend: Bullish as long as the price remains above 2500.

Sep 10

Trade closed: target reached

GOLD
Update

the price reached the target as we mentioned 2516, and now should break 2516 to be more bullish till 2526
otherwise as long as trades under 2516 mean will trades between 2516 and 2500 till breaking

Sep 11

Trade closed: target reached

GOLD
Update

The price reached our target and was rejected at their ATH and dropped again

so now should break 2500 to drop more till 2484 and 2475
otherwise, as long as trades above 2500 will try to touch 2516 and 2526 again

Sep 13

Trade closed: target reached

Gold Technical Analysis - 13 Sep. 2024

Gold Rises on Softer U.S. Dollar, U.S. Rate-Cut Expectations

GOLD recorded a new peak at 2580 and stabilized at a new bullish zone while above 2527 for the long term.

now it is possible to do a retest till 2570 or 2553 and then consolidate between 2570 and 2553 till breaking.
if the price can stabilize above 2580 mean will try to get a new peak around 2600


Key Levels:
- Pivot Point: 2580
- Resistance: 2600, 2625
- Support: 2570, 2554, 2543

Trend:
- Consolidation: 2580 - 2553
- Bullish: Above 2570
- Bearish: Below 2570