According to the latest technical analysis, the price of Gold has risen to reach the take profit level and continues to show increasingly strong bullish signals after the Moving Average (MA) and Moving Average Convergence Divergence (MACD) indicators confirm further potential increases.
The sustained price action above the MA suggests that the upward trend remains dominant, while the MACD moving into positive territory adds confidence that buying momentum is likely to intensify soon.
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The 15-minute chart for Gold indicates signs of recovery after the Stochastic indicator signals a rebound from the oversold region. This rebound is often interpreted as the initial phase of a bullish movement, where selling pressure begins to ease and buyers regain control of the market. With this signal, Gold appears poised to continue rising and test the resistance level at $2,815.
Technical Reference: buy as long as it stays above 2,790.00
Potential Take Profit 1: 2,810.00
Potential Take Profit 2: 2,815.00
Potential Stop Loss 1: 2,795.00
Potential Stop Loss 2: 2,790.00
