Gold Resumes Upward Movement
Updated
Gold Resumes Upward Movement
This analysis was detailed and posted on Friday.
As I explained, the price needed to rise above the pattern to begin the bullish wave. During the early hours of the European morning, GOLD broke through the resistance zone at 2577.40, initiating a bullish wave.
The price reached the first target at 2592.60 and is already up by +1.1%. The odds are that GOLD may continue to rise in the coming days.
Gold prices were also higher due to intensified fighting between Russia and Ukraine over the weekend.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Previous video analysis:
This analysis was detailed and posted on Friday.
As I explained, the price needed to rise above the pattern to begin the bullish wave. During the early hours of the European morning, GOLD broke through the resistance zone at 2577.40, initiating a bullish wave.
The price reached the first target at 2592.60 and is already up by +1.1%. The odds are that GOLD may continue to rise in the coming days.
Gold prices were also higher due to intensified fighting between Russia and Ukraine over the weekend.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Previous video analysis:
Note
From the previous analysis:
Target 2 reached:)
Trade closed: target reached
📣Gold May Extend Up to 2700, Considering Its Strength
Gold continues to rise today, driven by fears of an escalation in the conflict between Russia and Ukraine. Yesterday, GOLD's growth was also supported by a bearish wave in the DXY, which easily broke through the 106.30 level—a strong zone closely observed by market participants in recent days.
Today, GOLD is maintaining its strong bullish momentum, supported by the prevailing bullish trend. Given its current strength, gold looks poised to reach 2650 and could extend even further to 2700.
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