I was thinking that ...from Haseeb Journey - FOLLOWME Trading Community

14 Feb 2025, 14:07 · Views 27

I was thinking that gold might go down, but it keeps going up. I don't know what it's trying to do. What do you all think about gold's situation?

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Herry Poter

It seems like gold is continuing its bullish trend despite some mixed signals in the market. With the uncertainty around the Fed's actions and a weakening USD, gold has benefitted from safe-haven demand. The ongoing geopolitical concerns also support its rise. The resistance around $2,470 to $2,472 is key. If gold holds above that, we could see a continuation to new highs. However, if it faces rejection in this area, a corrective move could happen, potentially targeting lower levels like $2,446 or even $2,392. It's a bit tricky, but the general bullish sentiment remains unless there’s a sudden shift in the macroeconomic landscape. If you're thinking of trading, keep an eye on that key resistance zone for potential reversal signals

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