I'm currently looking at a strong BUY opportunity on GOLD, and here's why I'm confident about this move towards 2310:
🔍 1. Strong Demand Zone
Price recently bounced from a well-respected demand zone around 2270-2280, where we've seen multiple rejections in the past. This confirms strong buyer interest.
📊 2. Bullish Price Action
A clear bullish engulfing candle has formed on the H4 time frame, indicating a momentum shift in favor of buyers. Also, higher lows are forming, which confirms bullish structure.
📉 3. DXY (Dollar Index) Weakness
The US Dollar Index is showing signs of weakness after recent highs, which is historically bullish for GOLD. If DXY continues to drop, GOLD will likely rise.
📈 4. Technical Indicators Support
RSI is above 50 and heading upwards
MACD crossover shows bullish momentum
50 EMA is acting as strong support and guiding price upwards
💥 Conclusion:
Everything is aligning for a bullish move. I’m personally BUYING GOLD with targets around 2305–2310.
🔍 1. Strong Demand Zone
Price recently bounced from a well-respected demand zone around 2270-2280, where we've seen multiple rejections in the past. This confirms strong buyer interest.
📊 2. Bullish Price Action
A clear bullish engulfing candle has formed on the H4 time frame, indicating a momentum shift in favor of buyers. Also, higher lows are forming, which confirms bullish structure.
📉 3. DXY (Dollar Index) Weakness
The US Dollar Index is showing signs of weakness after recent highs, which is historically bullish for GOLD. If DXY continues to drop, GOLD will likely rise.
📈 4. Technical Indicators Support
RSI is above 50 and heading upwards
MACD crossover shows bullish momentum
50 EMA is acting as strong support and guiding price upwards
💥 Conclusion:
Everything is aligning for a bullish move. I’m personally BUYING GOLD with targets around 2305–2310.
Trade closed: target reached
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Learn & Earn | Amazing Analysis 📊 | Free Signals 💸 | Join my Telegram now!
t.me/+Htu7KFlcsUJmMTU8
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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.