Gold on the Verge of Breaking Its Historical Peak
As illustrated in the chart, gold is currently moving within a slightly upward sloping channel and is testing the upper boundary for the fifth time. The intent to break the channel's ceiling is evident from its movement towards the upper boundary and the inability to reach the channel's floor. 📊🔍
Moreover, there are two strong support zones at $2280 and $2360, which prevent significant drops. 💪🔒
Given the above points and the global risks, we anticipate a breakout above the channel's ceiling, targeting the midline and the depicted upper channel limit in the future. 🚀🌟
Like 👍, comment 💬, and share this analysis to stay updated on the latest gold market trends! 🌟
#Gold #XAUUSD #GoldTrading #TrendAnalysis #SupportAndResistance #TechnicalAnalysis #Tradecitypro #TCP
Moreover, there are two strong support zones at $2280 and $2360, which prevent significant drops. 💪🔒
Given the above points and the global risks, we anticipate a breakout above the channel's ceiling, targeting the midline and the depicted upper channel limit in the future. 🚀🌟
Like 👍, comment 💬, and share this analysis to stay updated on the latest gold market trends! 🌟
#Gold #XAUUSD #GoldTrading #TrendAnalysis #SupportAndResistance #TechnicalAnalysis #Tradecitypro #TCP
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.