MA and MACD Continue to Indicate Bullish Trends; Is Gold Ready for Another Rise?

The price of Gold is maintaining its bullish momentum, bolstered by confirmations from the Moving Average (MA) and MACD indicators, which continue to suggest further upward movement. The MA indicates that the upward trend remains strong, while the MACD enhances this outlook with a positive histogram and the MACD line sitting above the signal line.

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On the 15-minute chart above, Gold is still showing potential for a bullish outcome as the price forms a bullish channel and the CCI begins to rebound from the oversold territory. If the scenario plays out as anticipated, Gold could rise towards the resistance level of $2,670.00 per troy ounce.

Technical Reference: buy as long as it remains above 2,643.00
Potential Take Profit 1: 2,664.00
Potential Take Profit 2: 2,670.00
Potential Stop Loss 1: 2,650.00
Potential Stop Loss 2: 2,643.00