Gold Prices are Expected to Continue to Maintain Upward Demand

XAUUSD Gold Traders

Hello everyone! Today i want to share some technical analysis with u!

1.

Technicals:

Gold prices rose for a third consecutive session on Wednesday, with the price recording higher highs and higher lows for several consecutive days as buyers eye key resistance levels. As described by the Relative Strength Index (RSI), momentum suggests that the uptrend will continue until the RSI reaches overbought territory.

The first resistance level for the gold price will be the psychological level of $3,350. Once that level is breached, the next target will be $3,400, followed by the May 7 high of $3,438 and an eventual test of the all-time high of 3,500.

For a bearish reversal to occur, gold shorts would have to drag the price of gold below $3,300. Once this level is effectively broken, short-term support for the gold price will be at the May 20 low of $3204, followed by the 50-day simple moving average (SMA) of $3184.

Gold prices are expected to continue to maintain upward demand today and trading continues to be a buy trade!

Image

For whom haven't open CBA can know more from below:

🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!

Find out more here：
Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
💰CBA Mini Course 1: What is Cash Boost Account(CBA)?

Monetary policy, various types of price indices... Here is everything about the macro economy!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

50

2

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":437736722202760,"tweetId":"437736722202760","gmtCreate":1747899170857,"gmtModify":1747899601164,"author":{"id":10000000000010924,"idStr":"10000000000010924","authorId":10000000000010924,"authorIdStr":"10000000000010924","name":"XAUUSD Gold Traders","avatar":"https://community-static.tradeup.com/news/6ec329fddcb95dc0e61a33a6a2b637a9","vip":8,"userType":8,"introduction":"，","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":330,"starInvestorFlag":false},"themes":[{"themeId":"4143db0c6a084fb6bb4cba1db09bcbb5","categoryId":"7cf744760f454845a1870a05ea4e151d","name":"Macro Trend","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":4143db0c6a084fb6bb4cba1db09bcbb5}&rnconfig={\"headerBarHidden\": true}","description":"Monetary policy, various types of price indices...  Here is everything about the macro economy!","image":"https://static.tigerbbs.com/b92fcdcbb675f48af67c8cfbd53f43a3"}],"images":[{"img":"https://community-static.tradeup.com/news/57cf5c35f35acd68463a937ef753ec13","width":"814","height":"482"},{"img":"https://community-static.tradeup.com/news/381b104429792cae7f67dc1120e2458d","width":"1080","height":"1080"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/57cf5c35f35acd68463a937ef753ec13","width":"814","height":"482"}],"title":"Gold Prices are Expected to Continue to Maintain Upward Demand","html":"<html><head></head><body><p>Hello everyone! Today i want to share some technical analysis with u!</p><p></p><p>1.</p><p>Technicals:</p><p>Gold prices rose for a third consecutive session on Wednesday, with the price recording higher highs and higher lows for several consecutive days as buyers eye key resistance levels. As described by the Relative Strength Index (RSI), momentum suggests that the uptrend will continue until the RSI reaches overbought territory.</p><p>The first resistance level for the gold price will be the psychological level of $3,350. Once that level is breached, the next target will be $3,400, followed by the May 7 high of $3,438 and an eventual test of the all-time high of 3,500.</p><p>For a bearish reversal to occur, gold shorts would have to drag the price of gold below $3,300. Once this level is effectively broken, short-term support for the gold price will be at the May 20 low of $3204, followed by the 50-day simple moving average (SMA) of $3184.</p><p>Gold prices are expected to continue to maintain upward demand today and trading continues to be a buy trade! </p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/57cf5c35f35acd68463a937ef753ec13\" tg-width=\"814\" tg-height=\"482\"><span>Image</span></p><p>For whom haven't open CBA can know more from below:</p><p>🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!</p><blockquote><p>Find out more here：</p><ul style=\"\"><li><p><a href=\"https://tigr.link/9ApRRc\" title=\"Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.\" target=\"_blank\">Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.</a></p></li><li><p><a href=\"https://ttm.financial/TW/367769452580952\" title=\"💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉\" class=\"\">💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉</a></p></li><li><p><a href=\"https://ttm.financial/TW/413454436958416\" title=\"💰CBA Mini Course 1: What is Cash Boost Account(CBA)?\" class=\"\">💰CBA Mini Course 1: What is Cash Boost Account(CBA)?</a></p></li></ul></blockquote><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/381b104429792cae7f67dc1120e2458d\" tg-width=\"1080\" tg-height=\"1080\"></p></body></html>","htmlText":"<html><head></head><body><p>Hello everyone! Today i want to share some technical analysis with u!</p><p></p><p>1.</p><p>Technicals:</p><p>Gold prices rose for a third consecutive session on Wednesday, with the price recording higher highs and higher lows for several consecutive days as buyers eye key resistance levels. As described by the Relative Strength Index (RSI), momentum suggests that the uptrend will continue until the RSI reaches overbought territory.</p><p>The first resistance level for the gold price will be the psychological level of $3,350. Once that level is breached, the next target will be $3,400, followed by the May 7 high of $3,438 and an eventual test of the all-time high of 3,500.</p><p>For a bearish reversal to occur, gold shorts would have to drag the price of gold below $3,300. Once this level is effectively broken, short-term support for the gold price will be at the May 20 low of $3204, followed by the 50-day simple moving average (SMA) of $3184.</p><p>Gold prices are expected to continue to maintain upward demand today and trading continues to be a buy trade! </p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/57cf5c35f35acd68463a937ef753ec13\" tg-width=\"814\" tg-height=\"482\"><span>Image</span></p><p>For whom haven't open CBA can know more from below:</p><p>🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!</p><blockquote><p>Find out more here：</p><ul style=\"\"><li><p><a href=\"https://tigr.link/9ApRRc\" title=\"Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.\" target=\"_blank\">Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading.</a></p></li><li><p><a href=\"https://ttm.financial/TW/367769452580952\" title=\"💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉\" class=\"\">💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉</a></p></li><li><p><a href=\"https://ttm.financial/TW/413454436958416\" title=\"💰CBA Mini Course 1: What is Cash Boost Account(CBA)?\" class=\"\">💰CBA Mini Course 1: What is Cash Boost Account(CBA)?</a></p></li></ul></blockquote><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/381b104429792cae7f67dc1120e2458d\" tg-width=\"1080\" tg-height=\"1080\"></p></body></html>","text":"Hello everyone! Today i want to share some technical analysis with u! 1. Technicals: Gold prices rose for a third consecutive session on Wednesday, with the price recording higher highs and higher lows for several consecutive days as buyers eye key resistance levels. As described by the Relative Strength Index (RSI), momentum suggests that the uptrend will continue until the RSI reaches overbought territory. The first resistance level for the gold price will be the psychological level of $3,350. Once that level is breached, the next target will be $3,400, followed by the May 7 high of $3,438 and an eventual test of the all-time high of 3,500. For a bearish reversal to occur, gold shorts would have to drag the price of gold below $3,300. Once this level is effectively broken, short-term support for the gold price will be at the May 20 low of $3204, followed by the 50-day simple moving average (SMA) of $3184. Gold prices are expected to continue to maintain upward demand today and trading continues to be a buy trade! Image For whom haven't open CBA can know more from below: 🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly! Find out more here： Trade on a Cash Boost Account and enjoy up to 6 months of Commission-Free trading. 💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉 💰CBA Mini Course 1: What is Cash Boost Account(CBA)?","highlighted":1,"essential":1,"paper":2,"likeSize":50,"commentSize":0,"repostSize":2,"favoriteSize":0,"link":"https://ttm.financial/post/437736722202760","repostId":0,"isVote":1,"tweetType":1,"viewCount":436,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":1210,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/437736722202760"}