Can Gold Rival ATHs?Early last week, we finally saw the much anticipated correction on Gold. This move was likely a liquidation event, shaking out a wave of over-leveraged long positions that had built up during the prior rally.
On the 4H timeframe, price consolidated and accumulated for most of the week following that flush, suggesting that the market may now be rebuilding liquidity for its next major leg.
With weak hands cleared and positioning reset, Gold could now be preparing to retest its ATHs and possibly break into new territory if momentum and fundamentals align.
