Ascending Channel: Gold is moving within a clear ascending channel, showing a strong bullish momentum. Price has respected both the upper and lower bounds of the channel multiple times, confirming this structure.
Support and Resistance Zones:
Immediate Resistance at $2,747: This level, marked by a previous price peak, could act as a resistance. A breakout above could lead to further bullish movement.
Current Trend:
The price is nearing the top of the channel, suggesting either a potential breakout or a retracement towards the lower bounds of the channel.
Potential Scenarios:
Bullish Case: If the price breaks above $2,747, we could see a continuation of the bullish trend with higher price targets.
Trade closed: target reached
the target of the long position touched
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
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My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: 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.
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: 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.