Hello guys!
The main bullish trend remains intact on Gold. After forming a solid base near the QML level, price has been respecting the ascending channel structure and is now pushing toward the upper boundary of that channel.
The current price action shows strength and momentum, and with the recent breakout above the midline of the channel, it signals that buyers are likely to push price toward the next key area of interest.
The target is clearly defined: the supply zone around 3409–3423, which has previously acted as a major resistance area.
Core idea:
The main bullish trend remains intact on Gold. After forming a solid base near the QML level, price has been respecting the ascending channel structure and is now pushing toward the upper boundary of that channel.
The current price action shows strength and momentum, and with the recent breakout above the midline of the channel, it signals that buyers are likely to push price toward the next key area of interest.
The target is clearly defined: the supply zone around 3409–3423, which has previously acted as a major resistance area.
Core idea:
- Main trend: Bullish
- Structure: Ascending channel
- Support confirmed: QML zone bounce
- Current behavior: Price moving along the top of the channel
- Target: 3409–3423 supply zone
Trade active
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
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.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
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.