Gold is trading within a well-defined ascending channel, with each higher low being consistently respected – indicating strong buying pressure. The recent move broke through a fair value gap (FVG) and is approaching short-term resistance. High-probability scenario: a pullback toward the rising trendline, followed by a strong rebound aiming for the previous highs.
RSI remains in a positive zone, supporting the bullish bias. If the trendline support holds, the next target is the upper resistance area.
Supporting news: The US dollar has stalled after a sharp rally, while persistent inflation concerns and renewed hopes for a mild Fed rate cut are boosting gold’s appeal.
RSI remains in a positive zone, supporting the bullish bias. If the trendline support holds, the next target is the upper resistance area.
Supporting news: The US dollar has stalled after a sharp rally, while persistent inflation concerns and renewed hopes for a mild Fed rate cut are boosting gold’s appeal.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.