📈 Gold at a Crossroads: Continuation of the Uptrend or a Corrective Pullback?
Gold remains at a key level, requiring a daily close above $3055 to confirm renewed bullish momentum. As highlighted in previous reports, any stability above this level will reinforce the upward trend toward $3100+, especially after successfully retesting the mid-channel line in recent sessions and holding above $3000 once again.
⚠️ Additionally, geopolitical tensions continue to serve as a significant catalyst, supporting further upside potential.
🔍 Technical Outlook
From a technical perspective, gold maintains an upward trajectory, forming a secondary ascending channel within the broader trend. However, failure to hold above $3000 on a daily closing basis could trigger a decline toward $2940, a crucial level that will shape the next market direction.
📊 Key Scenarios to Watch
📉 A corrective pullback? Will gold retrace to lower levels before resuming its uptrend?
🚀 A breakout to new highs? Can the metal surpass $3100 and sustain further gains? The daily close remains the decisive factor.
📌 Market Indicators
The Relative Strength Index (RSI) signals a short-term corrective move, adding to market uncertainty in the upcoming sessions.
⚡️ Critical Price Levels
✅ A daily close below $3000 may lead to a decline toward $2940 / $2935
✅ Holding above $3055 reinforces bullish momentum, paving the way for $3100 / $3110
#Gold #MarketAnalysis #Trading #Investment #Commodities #TechnicalAnalysis 💰📊🔥
Gold remains at a key level, requiring a daily close above $3055 to confirm renewed bullish momentum. As highlighted in previous reports, any stability above this level will reinforce the upward trend toward $3100+, especially after successfully retesting the mid-channel line in recent sessions and holding above $3000 once again.
⚠️ Additionally, geopolitical tensions continue to serve as a significant catalyst, supporting further upside potential.
🔍 Technical Outlook
From a technical perspective, gold maintains an upward trajectory, forming a secondary ascending channel within the broader trend. However, failure to hold above $3000 on a daily closing basis could trigger a decline toward $2940, a crucial level that will shape the next market direction.
📊 Key Scenarios to Watch
📉 A corrective pullback? Will gold retrace to lower levels before resuming its uptrend?
🚀 A breakout to new highs? Can the metal surpass $3100 and sustain further gains? The daily close remains the decisive factor.
📌 Market Indicators
The Relative Strength Index (RSI) signals a short-term corrective move, adding to market uncertainty in the upcoming sessions.
⚡️ Critical Price Levels
✅ A daily close below $3000 may lead to a decline toward $2940 / $2935
✅ Holding above $3055 reinforces bullish momentum, paving the way for $3100 / $3110
#Gold #MarketAnalysis #Trading #Investment #Commodities #TechnicalAnalysis 💰📊🔥
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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.