GOLD: Bullish Momentum for Gold Remains Extremely Strong
Hello everyone! Today i want to share some macro analysis with you!
$XAU/USD(XAUUSD.FOREX)$$Gold - main 2612(GCmain)$
Technical Analysis: Bullish momentum for gold (XAUUSD) remains extremely strong, with the price hitting an intraday high of $4,433.94.
Gold is currently firmly above all moving averages, and every pullback to the MA5 or MA10 has turned into a rapid buying opportunity for bulls! The price has evolved from a base near 4,000, through a steady rise after breaking above 4,200, to the current accelerated phase of the main uptrend following the break above 4,400.
The overarching trend continues to adhere to the core principle of “buying on dips in the trend.” Avoid entering sell positions against the trend simply because you’re “afraid of heights” due to high prices!
Strategy: Buy: 4,415–20 TP: 4,480–4,490 Set SL according to personal preference!
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
