GOLD (XAUUSD): Will We Update ATH Soon?
Quick update for ⚠Gold:
Gold broke and closed above a horizontal resistance level on the 1-hour chart.
Upon retesting this broken level, the market formed a classic bullish pattern known as an ascending triangle. This pattern suggests a bullish accumulation and indicates a likely upcoming bullish trend.
To enter a buy position with confirmation, we should wait for a bullish breakout above its neckline 2523 and a close of an hourly candle above this level.
This could lead to a potential continuation of the bullish movement towards 2,531, with the possibility of updating the All-Time High.
On the other hand, a bearish breakout below the trend line of the triangle could signal a strong bearish trend.
Gold broke and closed above a horizontal resistance level on the 1-hour chart.
Upon retesting this broken level, the market formed a classic bullish pattern known as an ascending triangle. This pattern suggests a bullish accumulation and indicates a likely upcoming bullish trend.
To enter a buy position with confirmation, we should wait for a bullish breakout above its neckline 2523 and a close of an hourly candle above this level.
This could lead to a potential continuation of the bullish movement towards 2,531, with the possibility of updating the All-Time High.
On the other hand, a bearish breakout below the trend line of the triangle could signal a strong bearish trend.
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