3 min readGOLD (XAU/USD):
Gold has successfully returned to its all-time highs, hovering around $2,750. As shown below, we’ve maintained dynamic support along this ascending trend line, allowing the price to continue its upward momentum.
Examining the technicals more closely, it’s evident that we are still holding and rejecting price at this resistance zone. If this area continues to act as resistance, I’ll be watching to see if we trade lower into the rebalanced zone around the 50% Fibonacci level, which also aligns with the daily 50 EMA. The RSI indicator doesn’t currently suggest that price action is overbought, although it did briefly dip just below the 70% threshold.
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