Commodities Analysis and Opinion

Gold: Precious Metal Is Back-Testing the Broken Channel

10/01/2024

Less than a minute

2024.10.01 07:48

is back testing the broken channel’s T/L resistance as support at $2627. Is such a shallow retracement sufficient for the metal to resume higher? Don’t dismiss the possibility given the very strong and well-established uptrend.

Gold has been producing ATHs again and again hence betting against the trend is not a good idea. In any case if this support area fail look for $2600 next. XAU/USD-Daily Chart

10/01/2024

Less than a minute

Bitcoin (BTC) $ 82,104.00 2.12%

Ethereum (ETH) $ 1,894.11 0.13%

Tether (USDT) $ 0.999982 0.00%

XRP (XRP) $ 2.29 2.22%

BNB (BNB) $ 582.73 1.47%

Solana (SOL) $ 125.32 0.33%

USDC (USDC) $ 1.00 0.00%

Cardano (ADA) $ 0.708782 3.00%

Dogecoin (DOGE) $ 0.168919 1.46%

TRON (TRX) $ 0.226154 1.66%

Lido Staked Ether (STETH) $ 1,890.78 0.14%

lombard-staked-btc

Lombard Staked BTC (LBTC) $ 82,872.20 0.10%

Pi Network (PI) $ 1.67 3.25%

wrapped-bitcoin

Wrapped Bitcoin (WBTC) $ 81,917.95 2.26%

LEO Token (LEO) $ 9.72 0.08%

Chainlink (LINK) $ 13.32 0.45%

Stellar (XLM) $ 0.275529 4.40%

USDS (USDS) $ 1.00 0.02%

hedera-hashgraph

Hedera (HBAR) $ 0.191576 3.47%

Wrapped stETH (WSTETH) $ 2,265.62 0.19%

Avalanche (AVAX) $ 18.81 1.49%

Shiba Inu (SHIB) $ 0.000012 0.10%

the-open-network

Toncoin (TON) $ 2.83 4.00%

Sui (SUI) $ 2.19 4.32%

Litecoin (LTC) $ 89.58 1.53%

Bitcoin Cash (BCH) $ 329.22 5.47%

MANTRA (OM) $ 6.33 2.26%

Polkadot (DOT) $ 4.05 1.67%

Ethena USDe (USDE) $ 0.999802 0.01%

WETH (WETH) $ 1,894.27 0.10%

binance-bridged-usdt-bnb-smart-chain

Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.16%

Bitget Token (BGB) $ 4.21 0.20%

Hyperliquid (HYPE) $ 12.85 4.31%

WhiteBIT Coin (WBT) $ 28.21 1.78%

Wrapped eETH (WEETH) $ 2,013.68 0.01%

Monero (XMR) $ 207.88 1.06%

Uniswap (UNI) $ 5.95 0.82%

sUSDS (SUSDS) $ 1.04 0.15%

Dai (DAI) $ 1.00 0.01%

NEAR Protocol (NEAR) $ 2.65 3.10%

Aptos (APT) $ 5.19 0.65%

Pepe (PEPE) $ 0.000007 3.76%

Ethereum Classic (ETC) $ 18.06 1.11%

internet-computer

Internet Computer (ICP) $ 5.52 0.65%

Ondo (ONDO) $ 0.841515 3.22%

gatechain-token

Gate (GT) $ 20.57 0.73%

Aave (AAVE) $ 166.56 3.95%

OKB (OKB) $ 41.73 0.46%

coinbase-wrapped-btc

Coinbase Wrapped BTC (CBBTC) $ 82,045.98 2.15%

Mantle (MNT) $ 0.727216 2.89%