Gold at $4,629 and RSI at 70.9 — the safe haven is on fire and showing no signs of cooling down 🥇
Just 0.2% below its 3-month high of $4,640. Daily chart is textbook: price above SMA5 ($4,626), SMA10 ($4,530), SMA20 ($4,391), and SMA50 ($4,207). All moving averages stacked bullish.
MACD at +124.7 with histogram expanding at +24.9. Volume is 1.21x above average and increasing. This is not a top — tops form on declining volume.
📋 Key Levels:
Support: $4,391 (SMA20)
Resistance: $4,641 (3-month high)
Breakout target: $4,800+
Yes, RSI is overbought at 70.9. But in strong trends, overbought can stay overbought for weeks. The question is not whether gold is expensive — it is whether the trend bends.
📊 Gold above $5K by year end or overextended? What is your call?
#Gold #Commodities #DYOR
⚠️ Disclaimer: Not financial advice. Always do your own research and manage risk carefully.
Just 0.2% below its 3-month high of $4,640. Daily chart is textbook: price above SMA5 ($4,626), SMA10 ($4,530), SMA20 ($4,391), and SMA50 ($4,207). All moving averages stacked bullish.
MACD at +124.7 with histogram expanding at +24.9. Volume is 1.21x above average and increasing. This is not a top — tops form on declining volume.
📋 Key Levels:
Support: $4,391 (SMA20)
Resistance: $4,641 (3-month high)
Breakout target: $4,800+
Yes, RSI is overbought at 70.9. But in strong trends, overbought can stay overbought for weeks. The question is not whether gold is expensive — it is whether the trend bends.
📊 Gold above $5K by year end or overextended? What is your call?
#Gold #Commodities #DYOR
⚠️ Disclaimer: Not financial advice. Always do your own research and manage risk carefully.