GOLD (XAUUSD): Breakout confirmed
Gold is currently in a strong bullish trend.
After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range.
I anticipated a bullish breakout above the range’s resistance level.
A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish continuation. The next target for buyers would be 2980.
After establishing a new higher high and higher close on the 4-hour timeframe, the pair has entered a consolidation phase within a horizontal trading range.
I anticipated a bullish breakout above the range’s resistance level.
A 4-hour candle closing above 2943 would signal strong buying momentum, confirming a bullish continuation. The next target for buyers would be 2980.
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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.