XAU/USD Analysis – February 4, 2025
Current Price: $2,842.18 (+0.98%)
Trend: Bullish momentum inside an ascending channel
Key Levels to Watch:
Resistance: $2,928.75 – If this level breaks, expect further upside movement!
Support: $2,729.13 – Strong demand zone; watch for pullbacks.
EMA 200: $2,534.85 – Long-term bullish confirmation above this level!
Possible Scenarios:
Bullish Case: Price continues the uptrend, targeting $2,928.75 next. If broken, gold could see $3,000+ soon!
️ Bearish Case: A rejection from resistance could lead to a pullback towards $2,800-$2,730.
Final Thoughts:
The bullish momentum is still strong, and dips could be buying opportunities! Watch for price action near key levels.
Gold bulls, are you ready for new highs?