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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