Gold (XAU/USD) has pulled back into a significant buy zone between 2626 and 2630 aligning with a key demand area and the ascending trendline support. This retracement provides a potential entry point for buyers looking to capitalize on the next leg up.
Scenario:
Keep an eye on price action within the buy zone for confirmations before entering long positions. Always use proper risk management!
Scenario:
- If price holds within this zone, we could see a bullish reaction driving prices towards the $2,704 resistance level.
- The overall trend remains bullish, with the higher lows supporting a continuation of the upward momentum.
Keep an eye on price action within the buy zone for confirmations before entering long positions. Always use proper risk management!
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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.