GOLDEN INFORMATION:

Gold (XAU/USD) gains strong follow-through traction for the second straight day and rallies to a nearly two-week top, around the $4,141 area during the Asian session on Wednesday. The latest optimism over a potential US-Iran deal and the reopening of the Strait of Hormuz, along with receding US Federal Reserve (Fed) rate-hike bets, prompts some follow-through US Dollar (USD) selling and benefits the commodity.

⭐️Personal comments NOVA:

The easing of Middle East tensions helped gold prices rise and stage a strong recovery, breaking past the 4120 level and maintaining an upward trajectory toward 4200.

⭐️SET UP GOLD PRICE

🔥SELL GOLD zone: 4216 - 4218 SL 4226
TP1: $4200
TP2: $4177
TP3: $4150

🔥BUY GOLD zone: 4117- 4115 SL 4107
TP1: $4138
TP2: $4150
TP3: $4177

⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas.

⭐️NOTE:

Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account