GOLD/ Waiting for the Bullish Momentum
The price of gold corrected until 2730 after reversing from the high zone. The price is currently in a steeply bearish momentum towards 2730. If the price is pushed upward by the 2730 support and crosses the 2749 to reach the previous high level of 2789, it would be in an uptrend. However, if the 4H candle closes below the 2730, a bearish trend will begin.
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The price has moved upward step by step, in alignment with the stated idea, and successfully broke through the 2749 level. This breakout signifies strong bullish momentum, with the price now working toward crossing the remaining space to reach the final resistance level at 2789. This area represents a key milestone in the current uptrend.
Once the price touches the 2789 resistance, it is expected to encounter significant selling pressure.
If the price successfully breaks above 2789 following the correction, it will open the path to new highs. This breakout would further reinforce the bullish structure, marking a continuation of the upward trend.
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