Gold BuyOverview:
Gold has broken out of a key descending trendline, signaling strong bullish momentum. The price is currently testing the 2,740-2,750 support zone, previously a resistance, suggesting a potential continuation to the upside.
Key Points:
Breakout Confirmation: The breakout above the descending trendline adds to the bullish case.
Support Retest: The price is now testing the breakout area, turning it into strong support.
Target Levels:
🎯 TP1: 2,790 – Previous resistance zone.
🎯 TP2: 2,828 – Next key resistance level.
Stop Loss: Below 2,708, invalidating the bullish setup if breached.
Insights:
Gold remains attractive amid market uncertainties. Watch for price action around the support zone, as further consolidation or strong bullish candles may signal a clearer entry. Patience is key for maximizing risk-reward.
Let's GOO!