HelenP. I Gold will start to decline, after long upward move

Hi folks today I'm prepared for you Gold analytics. Recently, price has shown a powerful rally after breaking out from a prolonged consolidation phase that lasted several days. This sideways movement was confined inside the buyer zone near 2855 - 2835 points, which acted as a reliable base for bulls. After forming a solid structure in that area, the price started to move higher, eventually breaking through the resistance of the range and forming a clear uptrend supported by a well-defined trend line. After climbing steadily, the price reached the 3160 support level, which turned into a retest zone later on. A strong impulse followed, pushing Gold above the trend line and into a new higher range. The bullish momentum continued, bringing the price above the 3180 - 3160 zone, and establishing a new local high. Currently, XAUUSD is trading near 3327 points after forming a local peak. It’s showing early signs of a pullback from the top, and the structure suggests a potential correction. I expect the price to decline toward the trend line and reach the 3265 points, which coincides with the trend line. That's why it's my current goal. If you like my analytics you may support me with your like/comment ❤️

Trade active

Gold grew more, but I'm still waiting for it can soon make a correction movement...

FirstNameHelen

🚀If you want became part of my trading team, follow all my personal trades and start making big profits in trading welcome to my paid VIP signals group, write me ✏️ bit.ly/4grtzW3

❤️ Welcome to my free telegram channel 👉🏼 bit.ly/418mk0x

Also on:

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.

FirstNameHelen

Also on: