🔍 Technical Breakdown:
Gold has respected the key demand zone at 2,911 – 2,916, forming a strong base for a potential bullish continuation.
The recent correction followed a complex wave pattern, completing an ABCDE structure before bouncing.
The price is now moving towards the 161.8% Fibonacci extension at 2,992, a key upside target.
📊 Momentum Indicators:
The Stochastic Oscillator is recovering from lower levels, signaling renewed bullish momentum.
A break above recent highs could accelerate upside movement toward the psychological $3,000 mark.
🔥 Trading Outlook:
Bullish Bias: As long as Gold holds above 2,911, the upside structure remains intact.
Upside Target: 2,992 – 3,000 based on Fibonacci confluence.
Invalidation: A sustained break below 2,911 could shift momentum bearish.
📢 Are You Bullish on Gold? Comment below & hit Boost if you’re riding this move! 🚀✨
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Gold has respected the key demand zone at 2,911 – 2,916, forming a strong base for a potential bullish continuation.
The recent correction followed a complex wave pattern, completing an ABCDE structure before bouncing.
The price is now moving towards the 161.8% Fibonacci extension at 2,992, a key upside target.
📊 Momentum Indicators:
The Stochastic Oscillator is recovering from lower levels, signaling renewed bullish momentum.
A break above recent highs could accelerate upside movement toward the psychological $3,000 mark.
🔥 Trading Outlook:
Bullish Bias: As long as Gold holds above 2,911, the upside structure remains intact.
Upside Target: 2,992 – 3,000 based on Fibonacci confluence.
Invalidation: A sustained break below 2,911 could shift momentum bearish.
📢 Are You Bullish on Gold? Comment below & hit Boost if you’re riding this move! 🚀✨
🔔 Follow for More Precision Trading Insights!
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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.