Gold Hot Streak: What’s Next This Week?

The price has been climbing steadily, breaking through multiple levels, and it looks like it’s riding an ascending trendline on H4 (that green line sloping upward).
However, around February 11,14 and 21st, there’s a noticeable pullback or consolidation phase, with the price forming a small range before shooting up again. This suggests buyers stepped in at a key support area, pushing the price higher.
As of today, February 24, 2025, gold is looking pretty strong again, but we’re at a critical juncture. The price is sitting just above the daily open at 2940, still trading under PWH which is Immediate resistance,. Here’s what I think could play out this week:
If Bulls Stay in Control: If the price holds above 2940 and breaks R1 (2967.882), we could see a strong move toward 3000 (R2).
If Bears Step In: If the price fails to hold above 2940 and drops below the ascending trendline (around 2940 or under Weekly Pivot P, Watch Price action at Pivot P for this week ), we might see a pullback to S1 (2,891) or even deeper to S2 (2847). The recent overextension after the big move up could attract sellers looking to take profits or short the market.
I was expecting a pullback from Last week, and chances of pullback is still here and gold can re start the bull run within 6-7 Trading day (During this period a consolidation or correction chances are there) Overall gold is still bullish and as discussed in last week posts and I am still holding buy trade on both gold and silver , If Gold pullback and 2900 I will take some percentage of profit from both gold and silver.