Gold Breaks 1968 Resistance and Retests It, Continues Up
Gold has recently broken through the 1968 resistance level and has retested it, indicating a strong bullish trend. The precious metal is currently trading in an upward trend channel, which further supports the bullish outlook.
The Market Structure (Breakers) indicator 1 can be used to detect “Breaker Market Structures”, which can help identify potential breakouts and breakdowns in the market. This can be used in conjunction with other technical indicators to confirm the bullish trend.
Investors should keep an eye on the US Treasury bond yields, which have been decreasing and supporting the upward trend in gold prices 2. However, the US dollar is experiencing a revival, which may curb the metal’s ascent 2.
Overall, the outlook for gold is bullish, and investors should consider buying the precious metal for long-term investment purposes.
I hope this helps!
The Market Structure (Breakers) indicator 1 can be used to detect “Breaker Market Structures”, which can help identify potential breakouts and breakdowns in the market. This can be used in conjunction with other technical indicators to confirm the bullish trend.
Investors should keep an eye on the US Treasury bond yields, which have been decreasing and supporting the upward trend in gold prices 2. However, the US dollar is experiencing a revival, which may curb the metal’s ascent 2.
Overall, the outlook for gold is bullish, and investors should consider buying the precious metal for long-term investment purposes.
I hope this helps!