GOLD Correction Complete - Rally Toward $3,450 Ahead

2 days ago

is trading within a well-defined ascending channel, signaling ongoing bullish momentum. The price has continued to respect the channel structure, printing higher highs and higher lows, a clear sign of an intact uptrend. The recent retracement represents a healthy correction, potentially setting the stage for another bullish leg.

Price is now approaching a key support zone, marked by the lower boundary of the channel and a previous demand area. If this zone holds, it may offer a strong re-entry opportunity for buyers. The projected upside target is $3,450, which aligns with both the midline of the ascending channel and a previous resistance level.

As long as the price remains above the support zone and the ascending trendline, the bullish scenario remains valid. A break below this level, however, could invalidate the setup and increase the likelihood of a deeper retracement.

Always confirm your setups and trade with a proper risk management.
Best of luck!

yesterday

Trade active

Gold is showing signs of reversal, so I'm going to enter my long position right here.

TrendDiva

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