Gold continues to exhibit a robust bullish trend, with prices consistently maintaining stability above the Moving Average (MA) line, indicating that buying momentum remains dominant. The upward direction of the MA acts as a dynamic support, providing a solid foundation for prices to further ascend. As long as prices remain above the MA, the potential for continuing the upward trend remains significant, with the nearest support areas playing a crucial role in preserving the bullish structure.
In addition, the MACD indicator strengthens the bullish signal with a histogram moving in the positive zone and the signal line positioned above zero. This condition reflects a continuous increase in buying momentum, suggesting that the potential for Gold’s price to rise is still active.
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Gold demonstrates resilience within a bullish pattern, as the upward trend structure remains intact. On the 15-minute time frame, prices are stable above the 24-period Moving Average (MA), which serves as dynamic support. This scenario suggests that buying interest is still prevalent, enhancing the chances for prices to rise further and test the resistance level at 3,055.
Technical Reference: buy while above 3,014
Potential Take Profit 1: 3,048
Potential Take Profit 2: 3,055
Potential Stop Loss 1: 3,021
Potential Stop Loss 2: 3,014
