Gold's Hidden Ceiling Is Where Three Levels Converge

Gold breakout resistance is now the whole story, with a 14% advance off the lows stalling at a zone where three measures converge. Michael Boutros, Senior Market Analyst at StoneX, walks through gold on the weekly, daily, and four hour charts and shows where the advance is most likely to react. The rally out of a seven week consolidation at the yearly lows has now delivered four higher weeks out of five, running the market straight into a lateral zone where a Fibonacci retracement, the 200 day moving average, and a prior high close all sit together. Daily momentum has been diverging into the most recent high, a condition that leaves the immediate advance vulnerable even while the broader structure stays constructive above the yearly open. Boutros also maps the near term support band, the level that would invalidate the move, and the next lateral levels on a topside resolution. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_michael_boutros&utm_content=share 00:00 - Gold Hits a Three Level Wall 00:10 - Seven Week Base Breaks Out 00:35 - Three Measures Land Together 01:24 - The Daily Slope Finally Snaps 02:19 - Momentum Quietly Diverges 02:48 - Where the Advance Would Fail Like and subscribe for more financial market insights. #StoneX #MichaelBoutros #Gold #PreciousMetals