Gold Price Potential Upside with a Bullish Channel
Updated
hello guys.
Uptrend Structure: The price remains in a strong upward channel, with consistently higher highs and higher lows, indicating a bullish trend.
Resistance Levels: Immediate resistance around the $2,747 zone; a breakout here could lead to a rally towards the top of the channel.
Support Zones: Multiple support zones have formed, with notable levels around $2,730 and $2,714, acting as potential bounce areas if the price pulls back.
Engulfing Pattern: Minor engulfing observed, showing strong buying interest, which adds to the bullish outlook.
Next Move: A continuation within the channel is likely, with the potential for a breakout if momentum strengthens, signaling further gains.
Uptrend Structure: The price remains in a strong upward channel, with consistently higher highs and higher lows, indicating a bullish trend.
Resistance Levels: Immediate resistance around the $2,747 zone; a breakout here could lead to a rally towards the top of the channel.
Support Zones: Multiple support zones have formed, with notable levels around $2,730 and $2,714, acting as potential bounce areas if the price pulls back.
Engulfing Pattern: Minor engulfing observed, showing strong buying interest, which adds to the bullish outlook.
Next Move: A continuation within the channel is likely, with the potential for a breakout if momentum strengthens, signaling further gains.
Trade closed: target reached
both pointed areas touched
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