GOLD: Gold Prices Appear to Have Entered a Consolidation Phase
Hello everyone! Today i want to share some macro analysis with you!
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$Gold - main 2602(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Gold Technical Analysis
Gold prices appear to have entered a consolidation phase, as buyers failed to break through the previous all-time high of $4,381 and challenge the $4,400 level. The Relative Strength Index (RSI) indicates that bullish momentum is waning, with the RSI retreating from overbought territory.
With the daily closing price falling below $4,350, the first support level is at $4,300. A breach below this level could test the December 11 high of $4,285, with further support near $4,250. A sustained decline could then extend toward $4,200.
Trading recommendation: Maintain a Buy-focused strategy!
Strategy: 4305-08 TP:4330-35 SL:4298
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