GOLD (XAUUSD): Strong Intraday Bullish Signal
Update on Gold
Recently, we observed a breach of a key horizontal resistance level on the intraday chart.
Following this, the market retraced to a previously broken level and formed both a symmetrical triangle and a double bottom pattern on the 4-hour chart.
A bullish breakout above the triangle's resistance line and the neckline of the double bottom signals a strong intraday bullish outlook, indicating a likely continuation of the uptrend.
Our initial target is set at 2684.
Recently, we observed a breach of a key horizontal resistance level on the intraday chart.
Following this, the market retraced to a previously broken level and formed both a symmetrical triangle and a double bottom pattern on the 4-hour chart.
A bullish breakout above the triangle's resistance line and the neckline of the double bottom signals a strong intraday bullish outlook, indicating a likely continuation of the uptrend.
Our initial target is set at 2684.
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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.
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.