Gold New Bullish Trend
Gold continues its strong upward momentum, breaking above the previous uptrend channel at the $2,850–$2,860 level and reaching a new high of $2,881. This rally highlights strong bullish sentiment, driven by a combination of economic uncertainty, geopolitical risks, and technical buying. However, extreme bullish moves often signal the potential for a market correction, so traders should remain cautious.
Key Levels:
Support Levels: $2,824, $2,840 , $2,852
Resistance Levels: $2,880 $2,895
Projected Consolidation Range: $2,845–$2,885
Bullish Case: If gold holds above $2,845, it may continue its uptrend, retesting or even breaking above $2,885.
Bearish Case: A strong rejection at $2,880–$2,885 could trigger a pullback towards $2,840 and 2816 before resuming again an upward move.
Key Levels:
Support Levels: $2,824, $2,840 , $2,852
Resistance Levels: $2,880 $2,895
Projected Consolidation Range: $2,845–$2,885
Bullish Case: If gold holds above $2,845, it may continue its uptrend, retesting or even breaking above $2,885.
Bearish Case: A strong rejection at $2,880–$2,885 could trigger a pullback towards $2,840 and 2816 before resuming again an upward move.
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.
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.