Gold is once again capturing attention with its increasing potential for upward movement. The price action exhibits a bullish channel pattern, indicating that the upward trend remains dominant. Additionally, the price holding above the 24-period Moving Average (MA) strengthens the positive sentiment even further.
The MACD indicator also emphasizes the bullish signal, with the signal line positioned above the zero level, suggesting a stable upward momentum. This combination of technical factors solidifies the chances of Gold continuing its positive trend.
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Gold continues to exhibit resilience within a bullish pattern, maintaining its upward trend structure. On the 15-minute time frame, the price appears stable above the 24-period Moving Average (MA), which serves as dynamic support. This indicates that buying interest remains strong, enhancing the likelihood of the price continuing to rise and test the resistance at 3,065.
Technical Reference: buy as long as above 3,065
Potential Take Profit 1: 3,058
Potential Take Profit 2: 3,065
Potential Stop Loss 1: 3,036
Potential Stop Loss 2: 3,030
