GOLD → The bull market continues. Ahead of the PPI...

12. Aug.

XAUUSD has been breaking through the key resistance 2431 since the opening of the session and is holding towards the liquidity zone 2458. Ahead of PPI, which may set a short-term tone in the market.



Gold continues to form a bullish trend, the general premise is that the price is going to test ATH. Ahead of PPI and it is worth paying attention to the inflation indicator, which plays an important role for the Fed and the formation of further strategy. Also a lot of attention to the Middle East, namely the actions of Iran....
Technically, the price is in the range of 2458 - 2431. Emphasis on the resistance, because, on the background of a distant retest, it will not be possible to break this zone from the first time and a correction may take place before further growth.

Resistance levels: 2458, 2477
Support levels: 2431, 2418

Traders expect the PPI to remain at the same level, but if the data indicates a decline in inflation, the market may take it very positively. Unpredictable data can increase market volatility quite a lot.

Rate, share your opinion and questions, let's discuss what's going on with ★ XAUUSD ;)

Regards R. Linda!

12. Aug.

Trade geschlossen: Ziel wurde erreicht

Interim target achieved

13. Aug.

Trade geschlossen: Ziel wurde erreicht

The target of 2477 has been reached!