IMPORTANT BREAKOUT 〉BULLS ARE BACKAs illustrated, price has broken out of an important 4H and 1D trend line that had kept price bearish since the beginning of the month.
Yesterday, gold made its way to a ket resistance level and broke it, CLOSING above it in the 4H timeframe, which is a key sign that bulls are back.
An interesting sign is that price bounced from the 61.8 - 67% retracement of the last bullish impulse that had an extended correction.
Should price manage to stay above 3250-3300 next week, , (a very strong psychological and algorithmic price range), the path to a new ATH is well opened and the probabilities arise on its favor.
I try to visualize a potential buy area shown in green, and the invalidation of this idea would be the level from which price has bounced.
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I have been bullish on gold since 2023, ignoring any correction to be a "bearish market" and rather accumulation phases of longer term potential for growth.
The world economy and geopolitical conflict along many other financial macroeconomic data and circumstances, are simply NOT pointing toward a better future, and gold is screaming so by continuing to rise, and central banks back this up by continuing to buy it physically.
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GOOD LUCK
