Gold prices showed good consolidation recently, creating potential for further upside movement. Based on previous analysis, if the price successfully holds above the key 4,000 level, it could open the door for additional gains.
Technically, gold remains in a bullish trend after breaking through the $4,000 resistance, setting a new record by Friday. The market experienced a slight increase ahead of the weekend as recent data indicated that U.S. consumer sentiment remained stable.
At present, gold prices are virtually unchanged compared to September, but once the latest economic data was released, momentum returned—pushing prices higher toward the 4,033–4,060 range. This suggests continued strength and potential for further upside in the near term if momentum persists above the 4,000 level.
You may find more details in the chart.
Trade wisely best of Luck.
Ps; Support with like and comments for better analysis Thanks for Support
Technically, gold remains in a bullish trend after breaking through the $4,000 resistance, setting a new record by Friday. The market experienced a slight increase ahead of the weekend as recent data indicated that U.S. consumer sentiment remained stable.
At present, gold prices are virtually unchanged compared to September, but once the latest economic data was released, momentum returned—pushing prices higher toward the 4,033–4,060 range. This suggests continued strength and potential for further upside in the near term if momentum persists above the 4,000 level.
You may find more details in the chart.
Trade wisely best of Luck.
Ps; Support with like and comments for better analysis Thanks for Support
Trade closed: target reached
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Join My telegram Channel
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Related publications
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.