Gold just hit a fresh ALL-TIME HIGH at $4,697. The RSI is overbought at 76 â but try telling that to anyone who shorted gold this year. đ„
Technical Snapshot:
đ° Price: $4,696.70 (+1.26%) â NEW ATH
đ RSI: 76.1 â overbought (but trends can stay irrational)
đ Trend: Strong Uptrend
đ„ Volume: 1.51x average â surging
đ Price well above all SMAs (50-day at $4,203)
Gold is up 17.8% from its 3-month low of $3,986. Central bank buying, geopolitical uncertainty, and inflation fears are all fueling the rally.
**Why Watch?**
New all-time highs are both exciting and dangerous. The RSI at 76 says "overbought" but strong trends can stay overbought for weeks. The question is: do you chase or wait?
đŻ Key Levels:
Support: $4,500-4,600 zone | Psychological: $5,000
If you're in: trail stops tightly
If you're out: wait for a pullback to $4,500-4,600
Gold bulls â are you adding at ATH or taking profits? đ
#Gold #Commodities #Trading #SafeHaven
â ïž Disclaimer: This is personal analysis, not financial advice. Always DYOR.
Technical Snapshot:
đ° Price: $4,696.70 (+1.26%) â NEW ATH
đ RSI: 76.1 â overbought (but trends can stay irrational)
đ Trend: Strong Uptrend
đ„ Volume: 1.51x average â surging
đ Price well above all SMAs (50-day at $4,203)
Gold is up 17.8% from its 3-month low of $3,986. Central bank buying, geopolitical uncertainty, and inflation fears are all fueling the rally.
**Why Watch?**
New all-time highs are both exciting and dangerous. The RSI at 76 says "overbought" but strong trends can stay overbought for weeks. The question is: do you chase or wait?
đŻ Key Levels:
Support: $4,500-4,600 zone | Psychological: $5,000
If you're in: trail stops tightly
If you're out: wait for a pullback to $4,500-4,600
Gold bulls â are you adding at ATH or taking profits? đ
#Gold #Commodities #Trading #SafeHaven
â ïž Disclaimer: This is personal analysis, not financial advice. Always DYOR.