XAUUSD
Hello Traders!
What are your thoughts on GOLD?
Gold, after its strong bullish rally, once again pushed toward the previous high but faced rejection from the resistance zone. Currently, price is trapped between a short-term descending trendline and a key resistance area, indicating temporary consolidation and compression.
At this stage, a corrective move toward the rising trendline and the highlighted demand zone is expected. This pullback would allow the market to absorb liquidity and rebuild momentum. From that support area, we anticipate a bullish reaction, followed by a breakout above the resistance zone and the potential formation of a new high.
As long as price holds above the rising trendline and support zone, the overall bullish structure remains intact.
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