Initiated a long/buy position in Gold at 1910, driven by the recognition of an ABCD pattern formation, with the C point precisely aligning with the Fibonacci golden ratio of 38%.
In addition, escalating geopolitical tensions in the East have maintained Gold as a focal point of interest, given its well-established status as a safe-haven asset.
Furthermore, the current price levels reside comfortably above the Exponential Moving Average (EMA) 50, reinforcing the presence of bullish signals in the market.
The Dow Theory has also signaled the formation of a new higher low, indicating a resumption of the upward trend, in line with our trading strategy.