XAUUSD: Bullish trend
Updated
Today, gold has tested the support at the 2732-2728 range again. So far, the support remains intact, and the short-term trend is still leaning towards a bullish outlook. Based on this, the primary trading direction in the current session remains bullish.
From a technical perspective, gold is likely to continue its upward momentum in the near term. The key resistance zone to watch on the upside is between 2750 and 2758. It is worth noting that a resistance level has emerged around 2745 since the market opened yesterday.
However, given the overall trend, this resistance does not pose a strong technical barrier at the moment, and a breakout above this level is not expected to face significant difficulty.
Therefore, if gold can break above the 2745 level, there is a high likelihood of further gains towards the 2750-2758 range.
From a technical perspective, gold is likely to continue its upward momentum in the near term. The key resistance zone to watch on the upside is between 2750 and 2758. It is worth noting that a resistance level has emerged around 2745 since the market opened yesterday.
However, given the overall trend, this resistance does not pose a strong technical barrier at the moment, and a breakout above this level is not expected to face significant difficulty.
Therefore, if gold can break above the 2745 level, there is a high likelihood of further gains towards the 2750-2758 range.
Trade active
As expected, gold has successfully broken through the resistance at 2745 and is now approaching the 2750 level. The overall upward trend remains intact. Given the current price action, the bullish momentum in gold is still strong, and there is a likelihood that prices will continue to rise in the short term. With continued buying interest and technical support, gold could target higher levels in the near future. After breaking through the 2750-2758 resistance zone
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