The price of Gold has successfully breached a significant psychological threshold at $4,200, indicating that the upward trend is still ongoing and that buyers are firmly in control of the market. In the 1-hour time frame, the price structure displays a consistent formation of Higher Highs (HH) and Higher Lows (HL), as evidenced by the ZigZag indicator from its peak and trough points. This condition confirms that buying pressure continues to be the primary force driving prices higher. The positive sentiment towards safe-haven assets also acts as an additional catalyst, especially amid rising global uncertainties that prompt investors to seek refuge in Gold.
From a technical perspective, the upward trajectory of the Moving Average (MA) and the MACD residing in positive territory reinforce the short-term bullish outlook. This momentum emphasizes that buyers still dominate the price movement, with the potential to test the next resistance levels. As long as Gold stays above the breakout level without any significant reversal, the upward rally is expected to persist in the near term, supported by a strong technical foundation from the combination of MA, MACD, and robust price patterns.
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Gold continues to demonstrate its bullish trend strength with stable price movements within an upward channel in the 15-minute time frame. The price structure consistently forming an upward pattern indicates that buyer dominance remains strong, bolstered by the upward position of the Moving Average (MA) and the MACD remaining in positive territory. This technical condition emphasizes that the upward momentum is solid, opening the door for Gold to continue its rally towards the next resistance area near $4,240.
Technical Reference: buy while above 4,150
Potential Take Profit 1: 4,225
Potential Take Profit 2: 4,240
Potential Stop Loss 1: 4,160
Potential Stop Loss 2: 4,150
