The price of Gold continues its upward momentum into the evening trading session in the U.S. Technical structures indicate the formation of Higher High – Higher Low (HH-HL), which is being well-maintained, signaling a strong upward trend in the short term. The zigzag pattern observed on the 1-hour chart also shows consistent buying pressure, where every correction is seen as an opportunity by traders to re-enter long positions.
Additional support comes from aligned technical signals, with several Moving Average (MA) lines compactly moving in a way that promotes the upward trajectory. This situation strengthens the bullish outlook for Gold in the near term, particularly if prices can hold above the dynamic support area on the 1-hour timeframe. As long as this upward trend structure is not confirmed to break down, the potential for further gains remains open, aiming for previous high levels.
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Gold continues to display a strong bullish trend, maintaining stable price movements within an ascending channel on the 15-minute time frame. The price structure that consistently climbs indicates that buyers still hold significant power, supported by rising Moving Average (MA) positions and a MACD indicator that remains in positive territory. This technical condition confirms that the upward momentum is strong, opening the door for Gold to continue its rally towards the next resistance area around $4,278.
Technical Reference: buy while above 4,192
Potential Take Profit 1: 4,260
Potential Take Profit 2: 4,278
Potential Stop Loss 1: 4,210
Potential Stop Loss 2: 4.192
