Gold is on fire again, closing at $3,126.45 (+0.38%) and continuing to ride a steep uptrend supported by the 50-day SMA (2,925.58) and a well-respected ascending trendline.
🔹 MACD is trending higher with widening separation – bullish momentum is building again.
🔹 RSI just breached 75.80, putting gold deep into overbought territory.
🔹 No immediate resistance above – price is in discovery mode.
The trend is strong and healthy, but the overbought RSI suggests short-term pullbacks can't be ruled out. Still, buyers remain firmly in control above $3,000.
As long as the trendline holds, gold’s shine won’t fade.
-MW
🔹 MACD is trending higher with widening separation – bullish momentum is building again.
🔹 RSI just breached 75.80, putting gold deep into overbought territory.
🔹 No immediate resistance above – price is in discovery mode.
The trend is strong and healthy, but the overbought RSI suggests short-term pullbacks can't be ruled out. Still, buyers remain firmly in control above $3,000.
As long as the trendline holds, gold’s shine won’t fade.
-MW
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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.
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.