GOLD Forecast: Long-Term Bullish Bias with Short-Term Caution
Our analysis for Gold suggests a bullish outlook in the long term. However, if the price breaks the dynamic trendline, which has previously acted as a support level, we could potentially see a change in the short-term trend, which could indicate a short setup.
Despite this possibility, our bias remains long, and we expect the price to use the trendline as a pullback area before continuing its upward movement. If the price indeed rebounds from the trendline, we will confirm our long bias and expect the price to continue its long-term bullish trend.
It is crucial to keep a close eye on the price action and monitor any potential trend reversals carefully. While a short-term change in trend is possible, we anticipate the long-term bullish trend to prevail.
Despite this possibility, our bias remains long, and we expect the price to use the trendline as a pullback area before continuing its upward movement. If the price indeed rebounds from the trendline, we will confirm our long bias and expect the price to continue its long-term bullish trend.
It is crucial to keep a close eye on the price action and monitor any potential trend reversals carefully. While a short-term change in trend is possible, we anticipate the long-term bullish trend to prevail.
Related publications
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.