Gold set new local highs at the beginning of a new year. Precious metals as a group benefit from weaker USD, although part of the greenback weakness has been erased at the beginning of the European stock market session. Taking a look at GOLD chart at D1 interal, we can see that the price is trading in an ascending wedge pattern. A close of daily candlestick above $1,841.10 would signal an upside breakout from the aforementioned pattern and may herald an upward move towards teh next major resistance zone in the $1,898 area. This zone is marked with 61.8% retracement of the major downward impulse launched in March last year. On the other hand, a pullback from the $1,841.10 area may signal a correction with the lower limit of the pattern serving as the first target for bears.
Source: xStation5
Economic Calendar: Liquidity Overshadowed by Juneteenth (19.06.2026)
Morning Wrap: Asia pulls back on peace skepticism. Tokyo flags yen intervention (19.06.2026)
Daily Summary: Dollar at 1-year high, stocks rebound on renewed risk appetite 🚀 (18.06.2026)
NATGAS spikes following EIA report 📈 Inventories decelerate