Gold has once again demonstrated strength in the global market, buoyed by several technical indicators that confirm its upward potential. The 24-period Moving Average (MA) serves as a dynamic support, keeping prices firmly within a bullish trajectory.
Additionally, the MACD indicator provides positive signals, characterized by a green histogram with the MACD line positioned above the signal line, indicating sustained buying pressure. Coupled with a formed bullish channel, Gold is poised to extend its rise towards the next resistance level.
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The price of Gold has the potential to undergo a rebound as the Stochastic Oscillator indicates a signal exiting the oversold region on the 15-minute time frame. This movement suggests that selling pressure is beginning to wane, opening up opportunities for buyers to drive prices higher. If this momentum continues, Gold may test the resistance area of 3.035.
Technical References: buy as long as it remains above 2.996,00
Potential Take Profit 1: 3.023,00
Potential Take Profit 2: 3.027,00
Potential Stop Loss 1: 3.000,00
Potential Stop Loss 2: 2.995,00
