Lingrid | GOLD bulls Maintain CONTROL as MARKET Pushes Higher for OANDA:XAUUSD by Lingrid

Lingrid | GOLD bulls Maintain CONTROL as MARKET Pushes Higher

Following the news release, market surged higher, reaching the resistance zone/equal highs level. Currently, the price is testing the previous week high, and it may close above it. Historically, the market often breaks and closes above a key level on the third or fourth attempt. Considering the current bullish momentum, we could see the price surge towards the 3000 level this week. If the price pulls back, it may form an ascending triangle pattern, a trend continuation pattern. Overall, I expect the market continuing to push towards higher levels. My goal is resistance zone around 2975.

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The market has achieved a new all-time high by breaking and closing above last week's high. The price has now reached the next resistance zone at 2950. As anticipated, the market broke through the resistance zone on the third attempt. However, we should exercise caution at this point, as the market might pull back below the previous week’s high and enter a phase of consolidation. This is especially relevant given the upcoming release of Unemployment Claims data, which could influence price movement. Despite this, I expect the price to trend higher, as the last daily candle formed a doji, indicating potential momentum in the market. My goal is resistance zone around 2974

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