XAUUSD

It highlights the expectation that the ounce of gold will accept the 2012-2021 region as the bottom and continue to rise above the 13-34 period average. While optimism for the precious metal continues before the critical US PCE Deflator data on Friday, we will follow the 2042-2052 region and intraday macro-economic developments to see whether this optimism is confirmed. In today's calendar, the Final Growth and Unemployment Rights Applications from the US can be followed for the precious metal. If the precious metal can exceed the relevant region, the desire for an increase may become even stronger, and with this thought, a new rally towards the $2090 level can be observed. Otherwise, a slight compression may be observed between 2052-2012. It should not be forgotten that positive expectations continue as long as we remain above the 2012-2021 region in such a compression. In that case, in order for our current scenario to be considered invalid, a condition of permanence below the lower region must definitely be sought. However, in the event of such a change, pressure towards the 1969-1977 bottom region can be observed. Support: 2021-2012 Resistance: 2042-2052