3 min readGOLD (XAU/USD):
Gold remains near its recently established all-time highs, currently trading above $2,600. The question now is whether the metal will continue its upward momentum or face short-term pullbacks as the market consolidates.
A closer analysis of the technicals suggests a potential bearish head and shoulders pattern forming after a breakdown through the internal daily ascending trend line. Additionally, price has rebalanced around the 50% Fibonacci level. The RSI indicator currently reflects neutral conditions, neither overbought nor oversold. If the price moves lower, it will be crucial to monitor how the lower support level holds.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
