GOLD → Realization of consolidation and retest of resistance

16 בינו׳

XAUUSD is testing a rather important resistance, a break and consolidation above which will open the way to 2721 - 2726. Technically, gold has entered the buying zone, and the fundamental background supports it

Gold was supported by weak US inflation data, dollar correction and adjusted expectations of Fed rate cuts, as well as hopes for stimulus in China.
Traders' attention shifts to December retail sales and jobless claims in the US. These data will help clarify the Fed's monetary policy outlook. Weakened dollar and lower bond yields support the current growth of gold.
Technically, all eyes are currently on the uptrend and resistance at 2697.8

Resistance levels: 2697.8, 2700
Support levels: 2690, 2678

If gold can consolidate above 2697-2700 and the bulls hold the defense above this zone, we should expect growth in the short and medium term. But do not forget about the news that will be published later.

Regards R. Linda!

16 בינו׳

עסקה סגורה: היעד הושג

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