Gold will start to rise sharply after the correction!!
Gold has reached a new all-time high (ATH), signaling strong bullish momentum. The breakout above the long-term rising trendline, which previously acted as resistance, indicates a shift in market structure.
The resistance zone has now turned into support, confirming buyers' dominance. A minor pullback or retest of this breakout level could be expected before a stronger continuation to the upside.
If the price sustains above this zone, potential targets lie at $3,100-$3,200 in the short term and $3,500+ in the medium term.
The resistance zone has now turned into support, confirming buyers' dominance. A minor pullback or retest of this breakout level could be expected before a stronger continuation to the upside.
If the price sustains above this zone, potential targets lie at $3,100-$3,200 in the short term and $3,500+ in the medium term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.