3 min readGOLD (XAU/USD):
Gold is continuing to reach new all-time highs, currently trading above $2,770. With no apparent signs of a downturn, the question now is: how long can this rally continue?
A closer look at the technicals reveals that current price action is breaking through key structural levels without retesting them or moving into discount areas. Ideally, I’d like to see the price dip back into these former resistance zones, which have now turned into support. Observing how price action interacts with these levels would be essential before reassessing potential trading opportunities. The RSI indicator below shows that we are currently trading above the critical “overbought” level of 70%.
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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.
