Decoding Gold’s Momentum: Breakout Signals and the Journey to 2050!
Today, we are looking at gold on the daily chart, and asking if it will continue to move higher after yesterday’s breakout. We have run over all the signals we see confirming the possibility of higher prices.
Pattern – Breakout, Continuation.
Support – 1988, 1937.60
Resistance – 2018.50, 2050.45
We have also broken down higher resistance levels that we would like to see tested to maintain our thoughts and things to watch out for in case we see a new pullback from weekly highs.
What do you think? Could we see a new test of 2050 if the USD continues to trade lower?
Weekly Market Breakdown video analysis.
Good trading.
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