3 min readGOLD (XAU/USD):
Gold has broken through resistance and reached new all-time highs once again! For the first time ever, the price has surpassed $2,700. This is a significant milestone for the commodity, and there are no signs of the upward momentum slowing down anytime soon.
In one of my earlier articles, I noted that if we could break above the resistance level around $2,480 and hold it as support, which we did flawlessly, we would likely see strong upward momentum. Since breaking that level, Gold has gained nearly 10%, reaching new all-time highs. I’ll be keeping a close eye on the RSI indicator to see how price reacts around the key 70% level.
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