GOLD IS ON A BULL TREND AGAIN. $2350 COMING NEXT 😱

Gold respected the lower boundary of the major bearish channel formed. With the reversal identified, we witnessed a breakout and pullback on the previous support created at the $2310 region. Since the price has respected this area one more time. We expect to see a continuation of the current bullish trend to the upside targeting $2350.

If the price remains bullish biased even after the expected target was met at $2350 then we should confirm a bullish breakout on the resistance created around this $2350 level for another breakout and continuation.

This is where we may witness a complete rally towards the upper boundary of the major bearish channel formed. And this breakout confirmation will be crucial for gold future prices during the year 2024.

הערה:

Strong Rejection on the Support created at $2280 - $2270 region. Price once again retested the key level it breached with the NFP