Watch These Gold Price Levels After Precious Metal Tops $3,000 for First Time | Global News Avenue

Gold (House) will keep a focus on the spotlight, starting the week after setting the new record high Friday above the closely watched $3,000/oz level.

Precious metals Received an improvement last week When investors flock haven Worry about Trump administration’s assets Unpredictable tariff policies It can slow economic growth and accelerate inflation.

Last week, the gold medal rose 2.6%, up 14% since the beginning of the year at the end of Friday. By comparison, S&P 500 Stock Index In political and economic uncertainty, its record-breaking height fell by about 8% less than four weeks ago.

Below, we carefully studied the gold chart and applied for it Technical Analysis Point out key price levels that investors may be focusing on.

Breakthrough of the championship mode

Gold merges in two weeks Bandante This shows long-term continuation of commodities before the top trend line of the breakout pattern last Thursday upgrade.

and, Relative Strength Index (RSI) Confirm bullish price momentum with readings above 50, although pushing too much territory this week may increase the possibility of near-term Make a profit.

Let’s go to Gold’s chart to predict how continue Movement may work, and several keys can be identified Support level Worth watching during potential Callback.

Bar chart analysis

To predict how the continuation of a commodity will look higher, investors can use bar chart analysis, which can analyze the previous trend Make future price predictions.

When applying the analysis to Gold’s chart, we will make the price column structure, including the asset uptrend from August to October last year, and superimpose from last Thursday’s breakout point. This forecast is that the upward target of around $3,365 per ounce is about 13% higher than Friday’s closing price.

The previous trend has begun breakthrough Starting with the earlier pennant pattern on the chart, it was conducted within 57 trading days, suggesting that similar moves may continue until early June this year Price action rhyme.

Key support levels to monitor

The profits of commodities may cause gold prices to initially revisit the $2,833 level. This area on the chart may provide support near the downtrend line and upward tilt in The Pennant mode 50-day moving average.

The lower level for the next surveillance is around $2,790. The callback for this location can be met by seeking interest from investors to purchase interest Entrance point Prominence of gold near late October Swivel high.

Finally, a deeper person answer May result in a regaining lower support at the $2,721 level. The area is located about 9% of the locations where commodities are closed on Friday and may attract bid Close to two closely arranged peak The chart was formed on the charts last November and December.

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As of the date of writing this article, the author does not own any of the above securities.