Gold prices finally break above the recent range – Société Générale
Source Fxstreet
Gold has broken out above the upper limit of the range within which it consolidated since February denoting possibility of extension in uptrend, Société Générale's FX analysts note.
Next objectives are located at projections of $3015 and $3035/3050
"Daily MACD is at a lower level than February highlighting receding upward momentum however signals of a meaningful pullback are not yet visible in price action. Next objectives are located at projections of $3015 and $3035/3050 which is also the upper limit of an ascending channel. Recent pivot low of $2880 is a crucial support in case a brief pullback materializes."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Tesla Stock Hits Record High as Robotaxi Tests Ignite Market. Why Is Goldman Sachs Pouring Cold Water on Tesla?TradingKey - For Tesla investors, a challenging start to the year has now taken a significant turn.After a 36% stock plunge in the first quarter—its worst performance since 2022—Tesla shares surged ov
TradingKey - For Tesla investors, a challenging start to the year has now taken a significant turn.After a 36% stock plunge in the first quarter—its worst performance since 2022—Tesla shares surged ov
Pound Sterling slumps as UK inflation falls by more than expected to 3.2%The Pound Sterling (GBP) faces intense selling pressure against its major currency peers on Wednesday and slides over 0.5% to near 1.3340 against the US Dollar (USD), following the release of the United Kingdom (UK) Consumer Price Index (CPI) data for November.
The Pound Sterling (GBP) faces intense selling pressure against its major currency peers on Wednesday and slides over 0.5% to near 1.3340 against the US Dollar (USD), following the release of the United Kingdom (UK) Consumer Price Index (CPI) data for November.
XRP’s Price Action Flashes a Warning Even as ETF Flows Stay PositiveXRP’s structure remains weak despite 18 straight positive closes in spot XRP ETFs, with analysts warning that $1.98 and other nearby resistance zones could cap rebounds unless the YO region is reclaimed, while deeper downside scenarios keep $1.53 on watch as a potential (not guaranteed) accumulation area.
XRP’s structure remains weak despite 18 straight positive closes in spot XRP ETFs, with analysts warning that $1.98 and other nearby resistance zones could cap rebounds unless the YO region is reclaimed, while deeper downside scenarios keep $1.53 on watch as a potential (not guaranteed) accumulation area.
In 2025, gold outpaced Bitcoin, slashing the BTC-to-gold ratio by half from 40 to 20 ounces per BTC.
Historical data show a rising trend of US and European stocks in December. If the momentum is strong, fund managers may rush in with a buying frenzy.
