Buyers are still in control. GOLD is trading near $4140 after holding the lower channel support. Price is moving inside a rising recovery structure. If buyers holds $4125 to $4145, the bullish move should continue toward $4250 to $4265. The main target is $4300. On weekly Timeframe, head and shoulder forming.
Today report shows that gold pulled back to $4129 after touching a two weeks high at $4202 as the $ rose before the Fed minutes. The key focus this week is whether Fed signals reduce September hike expectations.
Structure
• Price holding rising channel support
• Recovery remains active above $4125 to $4145
• Main target near $4265 to $4300
Key levels
Resistance: $4265 to $4300
Support: $4125 to $4145
If gold holds the channel support, the bullish scenario remains active.
Today report shows that gold pulled back to $4129 after touching a two weeks high at $4202 as the $ rose before the Fed minutes. The key focus this week is whether Fed signals reduce September hike expectations.
Structure• Price holding rising channel support
• Recovery remains active above $4125 to $4145
• Main target near $4265 to $4300
Key levelsResistance: $4265 to $4300
Support: $4125 to $4145
If gold holds the channel support, the bullish scenario remains active.
SBWale
SBWale Pips Today:
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