Long

XAUUSD Long

Since the beginning of the year, gold has been on an impressive uptrend, gaining over 5,000 pips and culminating in last week's all-time high (ATH) at 3,167. As I mentioned in last week's analysis, even though we are in a strong uptrend, the price has deviated too far from the mean, making a correction inevitable.

✅ Friday Trade:
After testing the resistance zone formed between 3,135 and 3,140, gold experienced a significant drop, closing the week 1,000 pips lower than its peak during Friday's session.

📉 Recent Developments:**
The correction continued yesterday, with gold recently touching a necessary confluence support around 2,950.

📈 What's Next?
I expect an upward movement and a resumption of the uptrend, with targets at:
• The 3,050 zone 📌
• The 3,080 zone 📌

🎯 Plan:
Buy dips near support, aiming for the mentioned targets. This analysis would be negated if there is a clear break below 2,950. 🚀

PRIMERONIN

Emotion Mein Insaan Hamesha Galati Karta Hai.

--------Disclaimer-----------

Charts are for educational purposes only. They provide insights, but the final decisions remain at your discretion.

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PRIMERONIN

Emotion Mein Insaan Hamesha Galati Karta Hai.

--------Disclaimer-----------

Charts are for educational purposes only. They provide insights, but the final decisions remain at your discretion.

Also on: