From TradingView · · 50s
Gold Moves Higher on Bullish Signals
Gold climbs toward 4,411 as buyers push past key resistance.
In brief
Gold climbs toward 4,411 as buyers push past key resistance. Gold price targets 4,411 after strong buying pressure on the 45-minute chart. Originally reported by TradingView.
Gold shows recovery
Gold is showing a recovery on the 45-minute chart after forming a potential head-and-shoulders structure around recent lows.
Buyers push toward 4,350
Buyers have stepped in strongly, pushing price back toward the descending trendline and the 4,350 area.
Target at 4,411
A sustained move above the descending trendline could open the way toward the first target at 4,411.
Next levels 4,457 and 4,494
If bullish momentum continues, the next levels are 4,457 and 4,494.
Watch trendline reaction
Traders should watch the reaction around the trendline and nearby price areas as the structure develops.
The bottom line
Gold price targets 4,411 after strong buying pressure on the 45-minute chart.
