Gold has reached an all-time high, underscoring the strength of buyers in the market. The price remaining above the bullish channel on the hourly chart signals a robust indication that the upward trend is intact. The emerging ZigZag pattern reinforces the bullish momentum, while the upward movement of the Moving Average (MA) adds validation to the potential continuation of this positive trend.
Moreover, the MACD indicator operating within the positive region further strengthens the short-term bullish outlook. This combination of technical factors presents an opportunity for Gold prices to continue their ascent, with higher targets achievable if the momentum remains steady. As long as prices stay above the critical support areas, the bullish prospects are expected to dominate movements in the near future.
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On the 15-minute chart, the potential for an uptrend in Gold still exists as prices continue to move within the bullish channel. The upward ZigZag formations and the consistently rising Moving Average (MA) provide solid technical signals. This scenario allows space for Gold to strengthen further and may test key resistance at around $3,513 soon.
Technical Reference: Buy as long as above 3,468
Potential Take Profit 1: 3,506
Potential Take Profit 2: 3,513
Potential Stop Loss 1: 3,476
Potential Stop Loss 2: 3,468
