Gold remains well-positioned in a strong bullish trend, although prices have struggled to break above the rising trendline of the ascending channel. Considering that this move could represent the fifth wave of a larger-degree Elliott Wave structure, I’m on high alert for a potential correction. A pullback could bring prices back toward the $2,600 area. However, as of now, there are no clear signs of weakness, and the trend remains decisively bullish. 📈🔥
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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.