Following a substantial $250 decline, gold buyers have regained strength, propelling the precious metal back into its upward trajectory. The resurgence of bullish momentum is underscored by the appearance of a classic Golden Cross pattern—a pivotal technical signal where the 20 MA decisively moves above the 60 MA, indicating a robust buy opportunity.
Since Friday, the market has entered a brief consolidation phase, marked by a pullback to retest a critical support zone around $2663. This level corresponds to the 38% Fibonacci retracement, a significant technical marker often watched closely by traders. Should this support area prove resilient, it is expected to provide a solid foundation for the continuation of the uptrend. In such a scenario, the next major upside target lies above $2720, signaling a potential extension of the bullish rally.
The interplay of these technical factors highlights a well-supported market structure, offering promising opportunities for bullish market participants.
Since Friday, the market has entered a brief consolidation phase, marked by a pullback to retest a critical support zone around $2663. This level corresponds to the 38% Fibonacci retracement, a significant technical marker often watched closely by traders. Should this support area prove resilient, it is expected to provide a solid foundation for the continuation of the uptrend. In such a scenario, the next major upside target lies above $2720, signaling a potential extension of the bullish rally.
The interplay of these technical factors highlights a well-supported market structure, offering promising opportunities for bullish market participants.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.