GOLD Breaks Resistance - Can Bulls Maintain Momentum?

has broken above a major resistance level and is currently retesting this level as support. This area has historically acted as a key decision point, and its role as new support will be crucial in determining the next move. If buyers step in and successfully defend this level, I anticipate a continuation of the bullish trend, with price targeting the 2,830 level. This scenario aligns with the broader uptrend and could offer a strong buying opportunity.

However, if this support level fails to hold and sellers push the price below it, we could see further bearish momentum, potentially leading to a deeper pullback. Traders should closely monitor price action for confirmation signals, such as bullish engulfing candles, strong buying volume, or a clear rejection wick, which would indicate that buyers are reclaiming control.

Keeping an eye on market structure and key technical signals will be essential for making informed trading decisions.

Trade active

Trade closed: target reached

Take Profit Hit

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DanieIM

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