Gold continues to increase the increasing motivation?
Hello everyone, it's Brian! Let's dive into today's gold market analysis.
On today's chart, gold is showing a slight increase compared to the same time in yesterday's session. Currently, it's trading around $2330, and I have a few observations to share.
Trend Analysis:
Gold is still in a consolidation phase, lacking any significant breakout as it remains capped below the $2335 resistance level.
Outlook:
I see a promising upward trend, especially with the ascending trendline on the 4-hour chart. I'm looking forward to buying opportunities once the price breaks above the current resistance and the descending wedge.
My target for this strategy is $2380. What do you think? Do you agree with this perspective?
On today's chart, gold is showing a slight increase compared to the same time in yesterday's session. Currently, it's trading around $2330, and I have a few observations to share.
Trend Analysis:
Gold is still in a consolidation phase, lacking any significant breakout as it remains capped below the $2335 resistance level.
Outlook:
I see a promising upward trend, especially with the ascending trendline on the 4-hour chart. I'm looking forward to buying opportunities once the price breaks above the current resistance and the descending wedge.
My target for this strategy is $2380. What do you think? Do you agree with this perspective?
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