Gold: Retreat or Recover?

XAUUSD Gold Traders

Hello everyone! Today i want to share some macro analysis with you!

1.

$Gold - main 2412(GCmain)$ TECHNICAL ANALYSIS: There is no change in the outlook for the gold price from a short-term technical perspective as it remains in extremely overbought territory, suggesting that a meaningful correction may be on the horizon.

The 14-day Relative Strength Index (RSI) is currently trading above 76, requiring buyer caution.

If buyers regain lost momentum, gold's breakout above the record high of $2,686 US is critical for its further rise towards 2,700 resistance. If this resistance is broken, gold prices are expected to rise towards the psychological $2,750 mark!

If the gold price continues to retrace, effectively breaking the 2650 key resistance position! A test of the 24 September low of 2623 is likely, with support next at the 2600 mark.

Further down, gold sellers could target the 20 September low of 2585. intraday trading suggests sell orders with a focus on support around 2650!

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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.

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Today i want to share some macro analysis with you!</p><p></p><p>1.</p><p> <a data-mention-id=\"GCmain\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2412\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2412(GCmain)$</a> TECHNICAL ANALYSIS: There is no change in the outlook for the gold price from a short-term technical perspective as it remains in extremely overbought territory, suggesting that a meaningful correction may be on the horizon.</p><p>The 14-day Relative Strength Index (RSI) is currently trading above 76, requiring buyer caution.</p><p>If buyers regain lost momentum, gold's breakout above the record high of $2,686 US is critical for its further rise towards 2,700 resistance. If this resistance is broken, gold prices are expected to rise towards the psychological $2,750 mark!                                                                                     </p><p>If the gold price continues to retrace, effectively breaking the 2650 key resistance position! A test of the 24 September low of 2623 is likely, with support next at the 2600 mark.                                                                    </p><p>Further down, gold sellers could target the 20 September low of 2585. intraday trading suggests sell orders with a focus on support around 2650!</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/022f955954a86207bcd3b549a29caf85\" tg-width=\"882\" tg-height=\"463\"></p><p></p><p><em>Follow me to learn more about analysis!!</em></p><p>https://x.com/TradersXauusd/status/1839586763565899874</p></body></html>","htmlText":"<html><head></head><body><p>Hello everyone! Today i want to share some macro analysis with you!</p><p></p><p>1.</p><p> <a data-mention-id=\"GCmain\" class=\"teditor-mention\" data-mention-name=\"Gold - main 2412\" href=\"https://ttm.financial/FUT/GCmain\">$Gold - main 2412(GCmain)$</a> TECHNICAL ANALYSIS: There is no change in the outlook for the gold price from a short-term technical perspective as it remains in extremely overbought territory, suggesting that a meaningful correction may be on the horizon.</p><p>The 14-day Relative Strength Index (RSI) is currently trading above 76, requiring buyer caution.</p><p>If buyers regain lost momentum, gold's breakout above the record high of $2,686 US is critical for its further rise towards 2,700 resistance. If this resistance is broken, gold prices are expected to rise towards the psychological $2,750 mark!                                                                                     </p><p>If the gold price continues to retrace, effectively breaking the 2650 key resistance position! A test of the 24 September low of 2623 is likely, with support next at the 2600 mark.                                                                    </p><p>Further down, gold sellers could target the 20 September low of 2585. intraday trading suggests sell orders with a focus on support around 2650!</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/022f955954a86207bcd3b549a29caf85\" tg-width=\"882\" tg-height=\"463\"></p><p></p><p><em>Follow me to learn more about analysis!!</em></p><p>https://x.com/TradersXauusd/status/1839586763565899874</p></body></html>","text":"Hello everyone! Today i want to share some macro analysis with you! 1. $Gold - main 2412(GCmain)$ TECHNICAL ANALYSIS: There is no change in the outlook for the gold price from a short-term technical perspective as it remains in extremely overbought territory, suggesting that a meaningful correction may be on the horizon. The 14-day Relative Strength Index (RSI) is currently trading above 76, requiring buyer caution. If buyers regain lost momentum, gold's breakout above the record high of $2,686 US is critical for its further rise towards 2,700 resistance. If this resistance is broken, gold prices are expected to rise towards the psychological $2,750 mark! If the gold price continues to retrace, effectively breaking the 2650 key resistance position! A test of the 24 September low of 2623 is likely, with support next at the 2600 mark. Further down, gold sellers could target the 20 September low of 2585. intraday trading suggests sell orders with a focus on support around 2650! 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