3 min readGOLD (XAU/USD):
As previously mentioned, Gold has experienced a historic rally since breaking all-time highs (ATHs), as more investors turn to it as a “safe haven” asset. It will be interesting to see whether the price continues to reach new ATHs or begins to cool off and trade lower.
Looking at the RSI indicator, it’s clear that we’ve breached the key 70% level, but significant selling pressure has yet to emerge. If the price begins to move lower, I would be particularly interested to see how it reacts when it approaches the 50% level on the Fibonacci tool, which also aligns well with the key $2,500 level.
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