GOlD → stick to the long position

Updated
hello guys.

I believe gold is still bullish and only long positions are logical.

Channel Breakout: The price of gold has broken out of the main ascending channel, indicating a strong bullish move.
Fake Divergence: A fake divergence was spotted, but the price continued to rise, rejecting bearish signals.
Support Zone: The price is currently hovering above a significant support zone (highlighted in blue), which could serve as a springboard for further upward movement.
Target: The next potential target lies near the upper boundary of the newly formed channel, around the $2,550 mark.

Summary
  • Breakout: Price broke above the main ascending channel.
  • Support: Holding above a key support zone.
  • Target: Aiming for $2,550 as the next potential resistance level.


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the blue area is touched so the position is activated.
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a new update for the long position's target!
ascendingAscending ChannelBeyond Technical AnalysisbreakoutsChart PatternsGoldParallel ChannelTrend AnalysisXAUUSD

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