Gold is displaying strong potential for an upward trend, bolstered by a clear bullish momentum reflected in its technical indicators. The ascending Bollinger Bands suggest favorable volatility for buyers.
In addition, the MACD offers further confirmation as the signal line crosses above the MACD line, indicating robust bullish momentum. The price of Gold has successfully broken through previous resistance levels, and with these indicators at play, the chances for an extended rally appear promising.
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Gold shows the potential for further gains in the afternoon session after the Moving Average (MA) and the Zigzag indicator affirm a bullish trend on the 15-minute time frame. Prices remaining above the MA indicate strong momentum, while the Zigzag indicator suggests a higher high that reinforces the bullish signal at 3.090.
Technical Reference: buy above 3.060
Potential Take Profit 1: 3,084
Potential Take Profit 2: 3,090
Potential Stop Loss 1: 3,064
Potential Stop Loss 2: 3,060
