Bullish Momentum - Tariffs! Waiting for New ATH next week
✍️ NOVA hello everyone, Let's comment on gold price next week from 02/24/2025 - 02/28/2025
🔥 World situation:
Gold price slides late on Friday, poised to end the week positively, accumulating eight straight weeks of gains that pushed the yellow metal to all-time highs of $2,954. At the time of writing, the XAU/USD trades at $2,940, down 0.15%.
The financial markets' narrative has not changed as US President Donald Trump continues with rhetoric related to tariffs. In addition to imposing 25% tariffs on cars, pharmaceuticals and chips, Trump broadened duties to lumber and other soft commodities.
This fueled the rally in Bullion prices as investors seeking safety drove prices higher amidst uncertainty about US trade policies. Meanwhile, geopolitics took a second stage as there was some progress in the discussion to end the Russia-Ukraine war, which relieved the markets.
🔥 Identify:
Accumulated price zone 2918 - 2954, uptrend maintained well above zone 2900
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2954, $2965, $2980
Support : $2918, $2895, $2877
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
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