Gold Launches Fresh Bullish Rally as Strong High-Level Consolidation Keeps Buy Bias
Hello everyone! Today i want to share some macro analysis with you!
After consolidating at high levels during the European and pre-U.S. trading sessions, gold is now launching a new bullish rally, with an intraday gain of +1.78%. $XAU/USD(XAUUSD.FOREX)$$Gold - main 2612(GCmain)$
After peaking at 4,146, gold prices did not fall below 4,110 but instead formed a prolonged, narrow range consolidation between 4,120 and 4,130 (creating a dense cluster of candlesticks).
This pattern of “sideways consolidation instead of a pullback” is a classic characteristic of an extremely strong one-way trend, indicating that buying pressure from below is extremely strong, leaving no room for bears to trigger a deep pullback.
In terms of trading, continue to focus primarily on Buy positions!
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