Gold: Bullish Breakout and Correction Possibilities

Gold Technical Analysis

The price has stabilized in the bullish zone after breaking above 2665. As we mentioned earlier, stability above 2665 would lead to a move towards 2678. The price has already broken 2678, indicating that the bullish trend is likely to continue towards 2690 and 2706.

However, there is a possibility of a correction, which could bring the price back to 2672 or 2665.

Key Levels
Pivot Point: 2678
Resistance Levels: 2690, 2706, 2720
Support Levels: 2665, 2636, 2623

Trend Outlook
Bullish trend above 2678
Bearish while Below 2673