XAU/USD: Is a Price Rally or Correction on the Horizon?
The XAU/USD chart on September 26 reveals an intense battle as gold prices hover around $2,667, just after reaching a peak of $2,671.946. Buyers are making the most of two strong defensive walls:
The EMA 34 at $2,639 and EMA 89 at $2,600. These shields are preventing any deep corrections, helping to sustain the robust bullish momentum.
However, all eyes are now on the critical resistance at $2,671 – a significant psychological barrier.
This level will determine whether gold can break through and climb to new highs, with a potential target of $2,702, or face a correction back to the support zone around $2,651 before resuming its upward trend.
With the RSI reaching 69.45, the market is nearing the overbought zone, further increasing the likelihood of a pullback.
Amid hot economic data from the U.S. and key speeches from the Fed, major market moves could happen at any moment.
The EMA 34 at $2,639 and EMA 89 at $2,600. These shields are preventing any deep corrections, helping to sustain the robust bullish momentum.
However, all eyes are now on the critical resistance at $2,671 – a significant psychological barrier.
This level will determine whether gold can break through and climb to new highs, with a potential target of $2,702, or face a correction back to the support zone around $2,651 before resuming its upward trend.
With the RSI reaching 69.45, the market is nearing the overbought zone, further increasing the likelihood of a pullback.
Amid hot economic data from the U.S. and key speeches from the Fed, major market moves could happen at any moment.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.