#GOLD_UPDATE #GoldETF š” Asset: Gold (XAU/USD)
āļø Market Context
Gold hit a new all-time high above $3,900.
The move is driven by political uncertainty, soft labor data, and expectations of rate cuts.
Momentum remains bullish, but RSI is nearing overbought, signaling a potential short-term pullback.
---
š Bullish Signal
Condition: Price holds above $3,930.
Targets:
First target: $3,970
Second target: $4,000 (psychological level)
Bias: Continue buying on strength if price sustains above resistance and channel remains intact.
---
š Bearish / Pullback Signal
Condition: Price fails to hold above $3,930 and dips below $3,900.
Pullback Zone: $3,900ā$3,880 (potential buy-the-dip area if structure holds).
Bearish Trigger: A clean break below $3,850 would signal deeper correction and invalidate the current uptrend channel.
---
š§ Overall Outlook
Short-term: Overbought ā Possible cooling phase.
Medium-term: Still bullish as long as price stays above $3,850.
Strategy:
Look for buy entries on dips near $3,900ā$3,880.
Take partial profits around $3,970ā$4,000.
---