GOLD ((XAUUSD): Long-Term Technical OutlookðŠ
TVC:GOLD
āļŠāļąāļāļāļēāļāļēāļĢāļāļ·āđāļāļāļēāļĒāļŠāđāļ§āļāļāđāļēāļāļāļāļāļāļģ (āļāļāļĨāļĨāļēāļĢāđāļŠāļŦāļĢāļąāļāļŊ / āļāļāļāļāđ)
â ïļGold is currently on an upward trend globally. Itâs adhering well to the expanding rising wedge pattern seen on the 4-hour chart.
After hitting the resistance, gold began a corrective phase. This uptrend has been ongoing for over a month.
Thereâs a support cluster at the base of the wedge and a flat support level. The marketâs response here could lead to one of two outcomes:
If the price maintains above this level, we could see the beginning of a new bullish wave.
If the price breaks through and closes below, it could indicate a further bearish correction is underway.
Stay tuned for an update once thereâs a clear confirmation to proceed.
After hitting the resistance, gold began a corrective phase. This uptrend has been ongoing for over a month.
Thereâs a support cluster at the base of the wedge and a flat support level. The marketâs response here could lead to one of two outcomes:
If the price maintains above this level, we could see the beginning of a new bullish wave.
If the price breaks through and closes below, it could indicate a further bearish correction is underway.
Stay tuned for an update once thereâs a clear confirmation to proceed.
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