Gold prices rise up, knit towards a psychological mark of $ 3000, as the bullish momentum continues to control. The yellow metal was in a rally that could not be stopped, nourished by the most softened US dollar, global economic uncertainty, and constant demand for safe assets. However, with RSI signs flashing over the purchase, is gold run out of steam, or can bulls pay prices to an unknown area?
Technical expectations: Keys levels to watch
- Immediate resistance at $ 2,947 – the current high, where gold faces some frequency. The collapse above this can lead to a high fresh leg.
- The psychological barrier at $ 3000 – this level will be a major test of the bulls. A clean break can open the gates for more upward trend.
- First support at $ 2,853 – it can attract a decline in this region buyers looking for better entry points.
- Stronger support at $ 2791 – the collapse here will indicate a transformation in momentum, and gold may pull about $ 2,686.
- RSI in 72.56 – seen area, indicating that the slowdown can be on the horizon.
- MACD is still optimistic – but with slowdown, merchants should monitor the signs of difference.
What is the next gold?
The Gold Rally was impressive, but the RSI warning sign indicates that the correction can be in playing before another transfer. If the bulls fail to scan $ 3000, we can see a short -term decline, providing new purchase opportunities.
However, with total economic uncertainty and constant demand for safe assets, gold remains strength. Whether we see an outbreak or a break, there is one clear thing – Gold is still the trade that must be seen.
