Gold Market Update: Bullish Momentum Resumes
Yesterday, gold experienced a pullback, dropping to an intraday low of around 2835.
However, the price quickly rebounded, and overnight, bulls regained control, pushing it back above 2860—a key confluence resistance level.
This move suggests that the correction may be over.
Looking ahead, the upcoming NFP data could drive further momentum, potentially leading to a new all-time high by the end of the week.
From a broader perspective, the bullish outlook remains intact as long as yesterday’s low holds. A more significant correction would only come into play if we see a weekly close below this level.
However, the price quickly rebounded, and overnight, bulls regained control, pushing it back above 2860—a key confluence resistance level.
This move suggests that the correction may be over.
Looking ahead, the upcoming NFP data could drive further momentum, potentially leading to a new all-time high by the end of the week.
From a broader perspective, the bullish outlook remains intact as long as yesterday’s low holds. A more significant correction would only come into play if we see a weekly close below this level.
Trade active
Gold is stable above 2855-2860 zone which serves as confluence support nowTrade closed: target reached
New ATH
📈 Forex & XAU/USD Channel:
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💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.