🥇 Gold is approaching its “own” zone: preparing for a medium-term long
🎯 An interesting medium-term setup is taking shape on $XAUT (1D). The price is gradually moving down toward the strong $3900–4000 support zone, where gold has been bouncing for about a year.
📉 After surging to $4690, the price corrected, and the asset is now trading around $4123. A previous breakout from a prolonged descending wedge led to a confident rally, so buyers have historically stepped in at this zone.
🌍 The broader backdrop matters too: Fed rate decisions, movements in the dollar and yields, as well as inflows into gold ETFs and demand for safe-haven assets. Any change in rate expectations could speed up or slow down the rebound.
📌 Plan: build a medium-term long position in the $3965–3985 zone. I expect buyers to step in and a strong bounce from support. If the price breaks through the zone and holds below it, I’ll reassess the scenario.
💬 What do you think—will gold bounce from $4000 or test a lower zone?
❗️ Be attentive and cautious. Always manage your risk.
$XAUT
🎯 An interesting medium-term setup is taking shape on $XAUT (1D). The price is gradually moving down toward the strong $3900–4000 support zone, where gold has been bouncing for about a year.
📉 After surging to $4690, the price corrected, and the asset is now trading around $4123. A previous breakout from a prolonged descending wedge led to a confident rally, so buyers have historically stepped in at this zone.
🌍 The broader backdrop matters too: Fed rate decisions, movements in the dollar and yields, as well as inflows into gold ETFs and demand for safe-haven assets. Any change in rate expectations could speed up or slow down the rebound.
📌 Plan: build a medium-term long position in the $3965–3985 zone. I expect buyers to step in and a strong bounce from support. If the price breaks through the zone and holds below it, I’ll reassess the scenario.
💬 What do you think—will gold bounce from $4000 or test a lower zone?
❗️ Be attentive and cautious. Always manage your risk.
$XAUT