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GOLD → The fight for 2365. Can we get to 2400?

2024-07-10 10:56 GOLD Forecast

👑 Ideas For XAUUSD / GOLD

📈 GOLD → The fight for 2365. Can we get to 2400?

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GOLD is testing 2350, gathering liquidity below this zone. Bulls are actively holding the defense above the key area and the overall picture looks promising.... BUT!

GOLD → The fight for 2365. Can we get to 2400?

Powell's speech continues today ahead of CPI and PPI. Things are heating up, the slightest hint of an unpredictable outcome could shake the market.

Technically, gold is showing bullish dynamics after the bulls did not let the price go beyond 2350. The price is consolidating above the key level of 2365 and testing the area of interest and liquidity of 2375-2380. A breakout and consolidation of the price above this area may further strengthen the price, as the promising target, at the moment, is 2387 - 23400.

Resistance levelsGOLD → An intermediate bottom of 2350 is forming. What's next?: 2373, 2380

Support levels: 2365, 2355, 2350

A bounce to the downside before further growth is possible, but price consolidation above the key zones could form an interim bottom for the bulls. All emphasis on Powell's comments.....

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