Gold on the way to 2350????

4 thg 4, 2024

Gold is experiencing significant buying pressure across charts, while the DX is selling. The resistance lies between $2,295 to $2,300, with above $2,345 as the next target. I'm considering a possible entry at $2,292, but a structure break is required. Despite rejection at the hourly 4 chart's support, gold maintains a short-term bullish bias. If the DX finds support, gold may retest the $2,280 - $2,285 range, with $2,255 as a potential target if not reached by the weekly close. Despite weak selling potential, caution is advised due to high volatility around $2,290. Investors may await the U.S. session for DX's potential correction, which could pressure gold. Strict risk management is essential amid the volatile and upward trend in gold.