Gold has broken out of a key resistance level at, $3,265 with strong bullish momentum and above-average volume, confirming the breakout. This move is supported by rising RSI and MACD crossover, indicating strength in the trend. The breakout from the consolidation zone signals renewed investor interest, likely driven by macro uncertainty and safe-haven demand.
Traders can consider initiating long positions at current levels with a stop-loss and take profit levels defined in the charts.
Traders can consider initiating long positions at current levels with a stop-loss and take profit levels defined in the charts.
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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.