Yesterday, the price of gold concluded the trading session in a range-bound pattern, indicating a lack of clear directional momentum. However, today there are indications that the price might experience a pullback towards the previous support level and potentially break out of the established range area. This breakout could potentially lead to a bullish setup aligned with the prevailing uptrend. As a result, we are currently focused on identifying a long setup for gold.
Trade closed: target reached
Note
Continuing from our previous successful analysis, our outlook for XAUUSD (GOLD) remains firmly bullish, with a fresh uptrend impulse anticipated to propel the price towards the $2000 mark.
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Related publications
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.