GOLD(02/11): Gold price falls after reaching new record high.

On Tuesday, gold prices surged above $2,900 and hit a new all-time high.Trump'ssTrump'ss siffs and geopolitical risks continue to boost the safe-haven commodity. Modest USD strength prompted some intraday profit-taking around the XAU/USD pair.

From a technical perspective, XAU/USD is poised to extend its rally. The daily chart shows it has pulled back from the new high and is trading around the $2,900 mark. Technical indicators maintain upward slopes in the overbought zone without signs of upward exhaustion. Furthermore, the 20 Simple Moving Average (SMA) has accelerated well above the 100 and 200 SMAs while developing around $140.00 lower from current levels. A corrective pullback is not out of the question, but higher highs are still ahead.

According to the 4-hour chart, XAU/USD is bullish in the short term, although a correction is not out of the question. The Momentum indicator points firmly up, well above the 100 lines, while the Relative Strength Index (RSI) indicator consolidates around 73. Meanwhile, the moving averages point firmly up, well below the current level, with the bullish 20-day Simple Moving Average (SMA) providing intraday support at $2,870.10.

Looking at the 40-price red tree, you can see that trading the small time frame is like selling the large one now.

You can squeeze the entry from m5 and see the resistance within this 40-price range.

The ELL zThThe at 40 price retracement is at 2924-2928; the margin is too big, so wait until it arrives, squeeze, enter, and wait to return to around 2906-2904. BUY again, SLl at 2900
🟢 Price resistance around 2882 - 2871 - 2863 pay attention to slfive5 price
Breakout 2902 closes below, then watch for Sel. The sea level is still at 2940 - 2950. als,o wait
17 hours ago
Trading is active
Price is going in line with the assessment and reacted 50pips to the price zone 2906-2904
33 minutes ago
Order closed: reached target
According to the price vi, ew reacts 2925 +70pips
Buy 2906 +70pips
Resistance 2882 bounces up 70pips
Breakout 2902 sell reversal +130pips
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