यह भी देखें
11.04.2025 04:04 PM
Early in the American session, gold is undergoing a strong technical correction after reaching a new high around 3,237.69 for now. Economic data from the United States will be released in a few hours. We believe a pullback to 3,231-3,237 could occur, and the yellow metal could even surpass its high.
The strong volatility in gold suggests caution and lower risk when trading. Technically, gold has not shown any technical correction so far.
Since the rebound on April 8th around 2,968, it has reached its current high around 3,237, indicating that a new bearish cycle could follow.
We could expect a strong technical correction toward the 8/8 Murray at 3,125 in the coming days. The metal could even reach the 21st SMA located at 3,089.
Technically, XAU/USD is overbought on the daily chart. A strong technical correction is highly probable in the coming hours or even next week. We could expect gold to return to 3,125 or even the psychological level of $3,000.
If gold breaks and consolidates above 3,235, we can expect it to continue rising to 3,245 (daily R_2) and eventually reach the strong resistance of the +2/8 Murray at 3,281, which could act as a barrier.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
