GOLD (XAUUSD): Breakout & Bullish Outlook

Gold is trading in a long-term bullish trend within a parallel rising channel.

The market successfully broke and closed above an important daily horizontal resistance level that was previously set at an all-time high on Friday.

After the market opened, there was a retest of this broken structure, which was met with a bullish response.

As a result, it is likely that the bullish trend will continue. The next target is set at 2817.