Gold has successfully broken above its resistance zone and the top of the ascending channel, indicating strong bullish momentum.
Two support zones have been identified below the current price. A correction toward one of these levels is expected before the next bullish leg begins.
After a pullback to one of these support areas, we expect gold to resume its uptrend and push toward higher levels and new highs.
Among the two, the second support zone is considered a safer entry point for long positions, as it may offer stronger support and a better risk-reward setup.
Two support zones have been identified below the current price. A correction toward one of these levels is expected before the next bullish leg begins.
After a pullback to one of these support areas, we expect gold to resume its uptrend and push toward higher levels and new highs.
Among the two, the second support zone is considered a safer entry point for long positions, as it may offer stronger support and a better risk-reward setup.
Trade active
PROFIT-BOOKING PULLS GOLD OFF ALL-TIME HIGHGold prices eased on Thursday as investors booked profits after bullion hit an all-time high earlier in the session as restrictions on chip sales to China and continued tariff uncertainty increased demand for the safe-haven asset.
Trade closed: target reached
As I predicted, gold hits a new high! The gold price is above 3376. Who is rewriting the rules of the safe-haven game?
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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.