📈Gold has been consolidating for more than a week, trading within a broad horizontal range on the 4-hour chart.
Following today's release of US fundamentals, the market is showing bullish momentum.
A breakout above the range's resistance indicates that the accumulation phase may be complete, opening the door for further upside potential.
The next target to watch is the 2950 resistance level.
Following today's release of US fundamentals, the market is showing bullish momentum.
A breakout above the range's resistance indicates that the accumulation phase may be complete, opening the door for further upside potential.
The next target to watch is the 2950 resistance level.
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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.