GOLD: Uptrend Momentum Still?

$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2506(GCmain)$ Technical: On the upside, gold prices will aim for 3130 (the upper limit of the four-month long uptrend channel) as it breaks above the psychological short-term resistance at 3100. Once the latter is breached, gold prices will rise to $3200.

The Relative Strength Index (RSI) on the D1 chart has risen above 70, suggesting an overbought condition in the near term. In case of a technical correction in gold, $3060/(the midpoint of the uptrend channel) could be seen as the first support level; if it breaks below this support, sellers will aim for $3000-2990 (static level, the lower limit of the uptrend channel) and $2,980 (the 20-day simple moving average)!

Today's trade is in the 3095-3130 range! Trading stays buy trade orientated!

Strategy: BUY: 3100-3103 TP:3125 SL:3092

(Note: The market will be very volatile on the last trading day of the month, pay attention to risk control!)

Image

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Once the latter is breached, gold prices will rise to $3200.The Relative Strength Index (RSI) on the D1 chart has risen above 70, suggesting an overbought condition in the near term. In case of a technical correction in gold, $3060/(the midpoint of the uptrend channel) could be seen as the first support level; if it breaks below this support, sellers will aim for $3000-2990 (static level, the lower limit of the uptrend channel) and $2,980 (the 20-day simple moving average)! Today's trade is in the 3095-3130 range! Trading stays buy trade orientated! Strategy: BUY: 3100-3103 TP:3125 SL:3092 (Note: The market will be very volatile on the last trading day of the month, pay attention to risk control!)<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/58dc0c404cbe437c4b331ed31e1d2c9c\" tg-width=\"727\" tg-height=\"439\">ImageLastly, join us and to find the chance!!<img src=\"https://community-static.tradeup.com/news/fcbdfa32b1bad615efaa3cdd91091992\" tg-width=\"1080\" tg-height=\"1080\"></body></html>","htmlText":"<html><head></head><body> <a data-mention-id=\"XAUUSD.FOREX\" class=\"teditor-mention\" data-mention-name=\"XAU/USD\" href=\"https://ttm.financial/S/XAUUSD.FOREX\">$XAU/USD(XAUUSD.FOREX)$</a> <a data-mention-id=\"GCmain\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2506\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2506(GCmain)$</a> Technical: On the upside, gold prices will aim for 3130 (the upper limit of the four-month long uptrend channel) as it breaks above the psychological short-term resistance at 3100. Once the latter is breached, gold prices will rise to $3200.The Relative Strength Index (RSI) on the D1 chart has risen above 70, suggesting an overbought condition in the near term. In case of a technical correction in gold, $3060/(the midpoint of the uptrend channel) could be seen as the first support level; if it breaks below this support, sellers will aim for $3000-2990 (static level, the lower limit of the uptrend channel) and $2,980 (the 20-day simple moving average)! Today's trade is in the 3095-3130 range! Trading stays buy trade orientated! Strategy: BUY: 3100-3103 TP:3125 SL:3092 (Note: The market will be very volatile on the last trading day of the month, pay attention to risk control!)<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/58dc0c404cbe437c4b331ed31e1d2c9c\" tg-width=\"727\" tg-height=\"439\">ImageLastly, join us and to find the chance!!<img src=\"https://community-static.tradeup.com/news/fcbdfa32b1bad615efaa3cdd91091992\" tg-width=\"1080\" tg-height=\"1080\"></body></html>","text":"$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2506(GCmain)$ Technical: On the upside, gold prices will aim for 3130 (the upper limit of the four-month long uptrend channel) as it breaks above the psychological short-term resistance at 3100. Once the latter is breached, gold prices will rise to $3200. The Relative Strength Index (RSI) on the D1 chart has risen above 70, suggesting an overbought condition in the near term. In case of a technical correction in gold, $3060/(the midpoint of the uptrend channel) could be seen as the first support level; if it breaks below this support, sellers will aim for $3000-2990 (static level, the lower limit of the uptrend channel) and $2,980 (the 20-day simple moving average)! Today's trade is in the 3095-3130 range! Trading stays buy trade orientated! Strategy: BUY: 3100-3103 TP:3125 SL:3092 (Note: The market will be very volatile on the last trading day of the month, pay attention to risk control!) 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