Wait for news tonight, March 7
Gold rose above 2,150 USD during the European session. Gold's upward momentum has been consolidated after rising above its all-time high set last December, amid positive market sentiment ahead of the prospect of a Fed policy pivot and geopolitical risks. persistent treatment.
On frame D1, the RSI indicator in the overbought zone continues to be a cautious signal for buyers. In the event of a correction in gold prices, immediate support is Wednesday's session bottom at $2,124, with Tuesday's session bottom and the 23.6% Fibo level of the rally from the February 14 bottom to the March 7 peak, followed by 2,111 USD. Breaking through these supports, the decline could extend to $2,100.
On frame D1, the RSI indicator in the overbought zone continues to be a cautious signal for buyers. In the event of a correction in gold prices, immediate support is Wednesday's session bottom at $2,124, with Tuesday's session bottom and the 23.6% Fibo level of the rally from the February 14 bottom to the March 7 peak, followed by 2,111 USD. Breaking through these supports, the decline could extend to $2,100.
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TP1: 2145
TP2: 2135
SL: 2168