traderchamp_

GOLD ON A STRONG BULLISH CHANNEL HEADING NORTH

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold has once again surged from the support level near the $2280 - $2290 region. This recent rally has established a robust bullish channel on the daily timeframe, pushing the price back to the significant resistance around $2410. We might observe a minor reversal within the channel before the price resumes its upward movement after the pullback. This continuation is anticipated to mark the completion of the 5th wave, which is expected to extend further to the upside.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.