📣GOLD: Price Outlook

[TradingPuzzles]

GOLD: Price Outlook

Yesterday, after my analysis, gold climbed to 3875.45.

At first, the rise was linked only to rumors about a possible U.S. government shutdown. Today, the news confirmed that the U.S. government has indeed started shutting down most operations after Congress failed to pass a funding bill.

️However, now that the news is official, gold is not moving much.

We need to be cautious of sudden selling pressure that could push the price back down to 3795, from where it might bounce again (red scenario).

On the other hand, if gold breaks above the 3875.40 resistance zone, it could extend gains and continue its upward trend toward higher targets (blue scenario).

Overall, the situation remains uncertain and tricky.

[m_c_jacob]

I work with the bearish scenario
However, in my opinion, if Gold drops once more to 3890 zone, it will not recover towards ATH again, instead will continue down with a 3700 focus

[TradingPuzzles]

@m_c_jacob In my opinion also this bullish movement so far didn't make sense, but it happens. What is creating such big movements only who created them knows the truth behind this. I don't see a normal market. I agree with you