The price of Gold (XAUUSD) is maintaining a strong bullish momentum, fueled by positive signals from key technical indicators. In price analysis, the formed channel pattern clearly indicates an upward direction, as the price repeatedly tests and approaches new high levels.
The Moving Average (MA) with relevant periods also shows a positive trend, with prices trading above the average, suggesting ongoing potential for buying opportunities. Furthermore, the MACD (Moving Average Convergence Divergence) indicator reinforces the bullish outlook, as the MACD line remains consistently above the signal line, indicating the persistence of a dominant upward trend.
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The 15-minute chart for Gold displays strong bullish signals, driven by an upward-moving channel pattern and supported by the Moving Average (MA) indicator that highlights the positive trend. When prices are above the MA level, this signifies a sustained upward trend strength. The established bullish channel pattern further implies that Gold is likely to continue rallying towards the resistance level of 2.944.
Technical Reference: buy above 2.923,00
Potential Take Profit 1: 2.940,00
Potential Take Profit 2: 2.944,00
Potential Stop Loss 1: 2.928,00
Potential Stop Loss 2: 2.923,00
