GOLD (XAUUSD): Classic Trend-Following Setup
In today's top-down analysis session with my students, we focused on gold.
Despite the slowing momentum, the market still exhibits bullish tendencies.
After testing a strong rising trend line on the 4-hour chart, we saw a significant bullish reaction.
The price broke and closed above the resistance line of a bullish flag pattern.
I expect the market to move higher, targeting 2,672.
Despite the slowing momentum, the market still exhibits bullish tendencies.
After testing a strong rising trend line on the 4-hour chart, we saw a significant bullish reaction.
The price broke and closed above the resistance line of a bullish flag pattern.
I expect the market to move higher, targeting 2,672.
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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.
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.