Gold Prices Surge: What’s Next After the Latest Breakout ?
The price is in a strong uptrend, with consistent higher highs and higher lows.
The recent breakout above 2,800 confirms bullish momentum.
Support: Around 2,720 (previous swing high) and 2,600 (lower Bollinger Band).
Resistance: Current high at 2,853.2—watch for potential pullbacks.
The price is near the upper Bollinger Band, suggesting a strong bullish move but also a possibility of short-term consolidation or pullback.
Increased volume accompanies the breakout, confirming strong buying pressure.
High volume spikes during upward moves indicate institutional participation.
Bullish Case: If momentum continues, price could test 2,900 and potentially 3,000.
Bearish Case: A short-term pullback to 2,750–2,720 before another move higher.
