Trend Analysis on GOLD
The market has been in a significant uptrend in the last few days. GOLD should react to the supply zone of November's all-time highs. If not, it will break through and continue in an uptrend in the higher timeframes.
The market has three options:
1. Respect the supply zone drop for some points and create a chart pattern that indicates a new direction.
2. Consolidate and then find its direction.
3. Minor reaction from the supply zone and react impulsively to the market as it did the last days.
I believe that GOLD will rise to the all-time highs reached in 2020, 2022, and 2023. Fundamental analysis for GOLD is also great.
The market has three options:
1. Respect the supply zone drop for some points and create a chart pattern that indicates a new direction.
2. Consolidate and then find its direction.
3. Minor reaction from the supply zone and react impulsively to the market as it did the last days.
I believe that GOLD will rise to the all-time highs reached in 2020, 2022, and 2023. Fundamental analysis for GOLD is also great.
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.